Life Insurance Statistics Updated November 2026

Human Written & Fact Checked · Updated

167 Life Insurance Statistics for 2026

About half of US adults, 52%, say they have life insurance, and 38% say they need cover or more of it, on the 2026 survey by LIMRA and Life Happens. Insurers' filings show $22.0 trillion of cover in force at the end of 2024 and $88.5 billion paid to beneficiaries that year, on ACLI's tabulation.

This page sets out who owns life insurance, how much is sold, how much is in force, what is paid out, how often policies lapse and what employers offer. The US comes first. The UK, Europe, Canada, Japan, Australia and world figures sit in their own labelled sections.

The producers measure different things. LIMRA's Barometer survey asks adults what they hold, and its sales survey counts new premium. ACLI and the NAIC add up insurers' statutory filings. The Federal Reserve surveys families and tracks balance sheets. The BLS counts what employers offer. These measures are shown side by side with their producers named, and are never added together.

Headline figures

How many Americans have life insurance?

About half of US adults say they have cover, and the share barely moved between 2025 and 2026. Ownership is higher among men, among Gen X and in better-off households.

  1. 1 Gen X 58%
  2. 2 Baby boomers 53%
  3. 3 Millennials 50%
  4. 4 Gen Z 43%
Share of US adults who say they own life insurance, by generation, 2026. Fewer than half of Gen Z adults say they have cover. (LIMRA (2026 workplace benefits fact sheet), 2026)

These are self-reported answers from the Insurance Barometer survey of US adults who make household financial decisions, fielded in January 2026. They count people who say they have cover of any kind. They are not policy counts from insurers, and LIMRA changed its ownership method in 2024, so earlier years are not comparable.

How many Americans need more life insurance?

Nearly four in ten adults say they are under-covered, and more than half of lower-income households say so. LIMRA calls this the need gap, and it has narrowed since 2024.

54% Under $50K 48% Black 46% Hispanic 45% Gen Z 43% Millennials 41% Women 39% Gen X 36% Men
View data table
Share of each US group saying they need life insurance or more of it, 2026. The groups overlap, so the columns do not add up.
PeriodValue
Under $50K54%
Black48%
Hispanic46%
Gen Z45%
Millennials43%
Women41%
Gen X39%
Men36%
Share of each US group saying they need life insurance or more of it, 2026. The groups overlap, so the columns do not add up. (LIMRA and Life Happens (2026 Barometer PR toolkit), 2026)

The need gap is what adults tell the survey they need. It is not an actuarial estimate of missing cover. The people counts are LIMRA's own estimates from its fact sheets and toolkit.

Why do people buy life insurance, and why do they hold back?

Burial costs are the most common reason to own cover and price is the most common reason to go without. Most people guess the price too high, and few feel they understand the product.

  1. 1 Burial and final expenses 57%
  2. 2 Transfer wealth or inheritance 39%
  3. 3 Employer provides it 32%
  4. 4 Replace lost wages or income 27%
  5. 5 Pay off the mortgage 21%
Top five reasons US owners give for having life insurance, 2026. Owners could give more than one reason. (LIMRA and Life Happens (2026 Facts About Life Insurance), 2026)

Each figure has its own base: owners, adults with a need gap, women without cover, or younger non-owners. The women's fact sheet uses 2026 survey results where available and 2025 results otherwise.

How many US households have life insurance?

Fewer than a generation ago. The Federal Reserve's household survey shows both cover of any kind and cash value policies becoming less common.

69.2% 1998 69.3% 2001 65.4% 2004 64.9% 2007 62.6% 2010 60.1% 2013 61.1% 2016 59.4% 2019 56.0% 2022
View data table
Share of US households with any life insurance, 1998 to 2022. The survey runs every three years and 2022 is the latest year in the table.
PeriodValue
199869.2%
200169.3%
200465.4%
200764.9%
201062.6%
201360.1%
201661.1%
201959.4%
202256.0%
Share of US households with any life insurance, 1998 to 2022. The survey runs every three years and 2022 is the latest year in the table. (ACLI (Life Insurers Fact Book 2025), Nov 2025)
  • 56.0% of US households had any life insurance in 2022, down from 59.4% in 2019 and 69.2% in 1998, on ACLI's tabulation of the Federal Reserve Survey of Consumer Finances. (ACLI (Life Insurers Fact Book 2025), Nov 2025)
  • Term life was held by 45.6% of US households in 2022, and the median face value among households with any cover was $150,000, on the same tabulation. (ACLI (Life Insurers Fact Book 2025), Nov 2025)

This is a household measure from the Federal Reserve's triennial survey. LIMRA's ownership figure counts adults and comes from a different survey, so the two are not comparable. For cash value policies this page uses the Federal Reserve's own published share, not ACLI's separate tabulation of the same survey.

How many US families hold cash value life insurance?

  • 16.1% of US families held cash value life insurance in 2022, so the share fell over the three years to 2025. (Federal Reserve (SCF 2025), Oct 2026)
  • US families with cash value life insurance in 2025 held a median cash value of $12,000 and a mean of $61,700, in 2025 dollars. (Federal Reserve (SCF 2025), Oct 2026)
  • 19.0% of US families held cash value life insurance in 2019. (Federal Reserve (SCF 2022), Oct 2023)

The Federal Reserve counts families with a policy that has built up a cash value. Term policies, which pay only a death benefit, are excluded, so this is not total life insurance ownership.

How much life insurance is sold in the US each year?

New individual sales set a record in 2025 on LIMRA's count, and the number of policies sold rose as well. Whole life accounts for more than a third of new premium, and indexed and variable universal life each grew at a double-digit rate.

$15.3bn 2022 $15.7bn 2023 $15.9bn 2024 $17.5bn 2025
View data table
US individual life insurance new annualized premium, 2022 to 2025, final results. Each year comes from the release for that year; the link is to the latest one.
PeriodValue
2022$15.3bn
2023$15.7bn
2024$15.9bn
2025$17.5bn
US individual life insurance new annualized premium, 2022 to 2025, final results. Each year comes from the release for that year; the link is to the latest one. (LIMRA (2025 individual life sales), Mar 2026)
  • US individual life new annualized premium rose 10% year over year in 2025 and the number of policies sold rose 7%. LIMRA says new premium has set records in four of the past five years. (LIMRA (2025 individual life sales), Mar 2026)
  • US whole life new premium climbed 7% to $6.4 billion in 2025, a sales record for the product on LIMRA's count, and made up 37% of the market. (LIMRA (2025 individual life sales), Mar 2026)
  • US indexed universal life new premium totalled a record-high $4.5 billion in 2025, 17% above 2024, and represented 25% of the market. (LIMRA (2025 individual life sales), Mar 2026)
  • US term life new premium rose 3% to $3.1 billion in 2025 and represented 17% of total individual sales. (LIMRA (2025 individual life sales), Mar 2026)
  • US variable universal life new premium totalled $2.6 billion in 2025, up 17%, and held 15% of the market. Fixed universal life was $984 million, down 4%, with 6%. (LIMRA (2025 individual life sales), Mar 2026)
  • In 2024, US new annualized premium rose 3% to $15.9 billion. Whole life fell 4% to $5.8 billion, indexed universal life reached $3.8 billion and variable universal life rose 15% to $2.2 billion. (LIMRA (2024 individual life sales), Mar 2025)
  • In 2023, US new annualized premium increased 1% to $15.7 billion. Whole life was $6.1 billion, indexed universal life fell 4% to $3.7 billion and variable universal life was $1.9 billion. (LIMRA (2023 individual life sales), Mar 2024)
  • In 2022, US life insurance premium totalled $15.3 billion, which LIMRA described as roughly level with the record set in 2021. Term new premium was $2.8 billion, a 19% market share, indexed universal life $3.9 billion and variable universal life $1.8 billion. (LIMRA (2022 individual life sales), Mar 2023)
  • US individual life new annualized with excess premium rose 3% year over year to $4.75 billion in the second quarter of 2026, and the number of policies sold increased 8%. (LIMRA (Q2 2026 individual life sales), Aug 2026)
  • By product in the second quarter of 2026, on the same US measure: whole life $1.77 billion (up 9%), indexed universal life $1.1 billion (down 9%, its first decline since the second quarter of 2023, and 24% of the total), term $824 million (up 6%), variable universal life $811 million (up 13%) and fixed universal life $233 million (down 3%). (LIMRA (Q2 2026 individual life sales), Aug 2026)
  • Forecast: LIMRA said in March 2026 that it expects US life insurance new annualized premium to grow between 2% and 6% in 2026, against a historical average of 3.1%. (LIMRA (2025 preliminary sales release), Mar 2026)

LIMRA's sales survey measures new annualized premium on newly sold individual policies. It is not total premium income and not the amount of cover. Each year's figure is the one printed in that year's final release, and LIMRA revises earlier years, so printed growth rates do not always match the printed levels. From 2026 LIMRA reports annualized with excess premium, which is not comparable with 2025 and earlier.

How much life insurance cover is in force in the US?

Cover in force runs to tens of trillions of dollars and slipped slightly in 2024. Individual policies carry most of it, and their number has been falling for decades.

$20.78tn 2015 $20.32tn 2016 $20.42tn 2017 $19.57tn 2018 $19.83tn 2019 $20.43tn 2020 $21.19tn 2021 $21.81tn 2022 $22.16tn 2023 $22.01tn 2024
View data table
US life insurance in force, total face amount, 2015 to 2024. The total has moved within a narrow band for a decade.
PeriodValue
2015$20.78tn
2016$20.32tn
2017$20.42tn
2018$19.57tn
2019$19.83tn
2020$20.43tn
2021$21.19tn
2022$21.81tn
2023$22.16tn
2024$22.01tn
US life insurance in force, total face amount, 2015 to 2024. The total has moved within a narrow band for a decade. (ACLI (Life Insurers Fact Book 2025), Nov 2025)
  • Total US life insurance cover fell 0.7% from 2023. At the end of 2024 individual policies carried $14.07 trillion of face amount, group $7.85 trillion and credit $90 billion. (ACLI (Life Insurers Fact Book 2025), Nov 2025)
  • By type, 133.8 million individual policies, 118.0 million group certificates and 10.5 million credit policies were in force in the US in 2024. (ACLI (Life Insurers Fact Book 2025), Nov 2025)
  • Individual life policies in force in the US numbered 142 million in 2015, 137 million in 2020 and 136 million in 2022. The same table shows 206 million in 1980. (ACLI (Life Insurers Fact Book 2025), Nov 2025)

Face amount is the death benefit promised, not premium paid. ACLI tabulates insurers' statutory filings for 2024. It counts policies and certificates, not people, and one person can hold several.

How much new cover do Americans buy, and of what kind?

Americans buy trillions of dollars of new cover a year. Term insurance supplies most of the face amount, while permanent policies are more numerous and much smaller.

10.31m 2015 11.01m 2016 10.48m 2017 10.29m 2018 10.12m 2019 10.09m 2020 10.40m 2021 9.50m 2022 9.59m 2023 9.64m 2024
View data table
New individual life insurance policies bought in the US, millions, 2015 to 2024. Fewer policies are sold than a decade ago, for larger amounts.
PeriodValue
201510.31m
201611.01m
201710.48m
201810.29m
201910.12m
202010.09m
202110.40m
20229.50m
20239.59m
20249.64m
New individual life insurance policies bought in the US, millions, 2015 to 2024. Fewer policies are sold than a decade ago, for larger amounts. (ACLI (Life Insurers Fact Book 2025), Nov 2025)
  • Americans bought $3.5 trillion of new life insurance cover in 2024, down 2.7% from 2023: individual $2.01 trillion on 9.6 million policies, group $1.48 trillion on 25.7 million certificates and credit $41 billion. (ACLI (Life Insurers Fact Book 2025), Nov 2025)
  • The average size of new individual life policies bought in the US rose from $168,000 in 2014 to $209,000 in 2024. (ACLI (Life Insurers Fact Book 2025), Nov 2025)
  • Term insurance was 39.3% of new US individual policies bought in 2024, or 3.8 million, but 72.1% of the individual face amount issued, at $1.45 trillion. (ACLI (Life Insurers Fact Book 2025), Nov 2025)
  • Whole life and endowment policies were 60.7% of new US individual policies in 2024 (5.9 million) and 27.9% of face amount ($561 billion). Level term alone was 38.2% of policies and 64.8% of face amount. (ACLI (Life Insurers Fact Book 2025), Nov 2025)
  • Participating policies, which pay dividends, were 27.8% of the face amount of new US individual life insurance bought in 2024, or $558 billion. Nonparticipating policies were 72.2%. (ACLI (Life Insurers Fact Book 2025), Nov 2025)
  • New US individual policies numbered 10.31 million in 2015 ($1.65 trillion of face amount) and 11.01 million in 2016 ($1.68 trillion), against 9.50 million in 2022 ($1.87 trillion) and 9.59 million in 2023 ($1.97 trillion). (ACLI (Life Insurers Fact Book 2025), Nov 2025)

ACLI counts policies and face amount bought. LIMRA's product shares in the sales section count new premium. Term is a small share of premium and a large share of face amount, and the two measures should not be set against each other.

How much do US life insurers pay out in death benefits?

Tens of billions of dollars a year go to beneficiaries, and the 2024 total was below the 2021 figure. Disputed claims are counted in millions, not billions.

$74.3bn 2015 $76.0bn 2016 $77.1bn 2017 $79.7bn 2018 $78.4bn 2019 $90.4bn 2020 $100.2bn 2021 $91.7bn 2022 $89.1bn 2023 $88.5bn 2024
View data table
Payments to US life insurance beneficiaries, 2015 to 2024. Payments rose sharply in 2020 and 2021 and have since eased.
PeriodValue
2015$74.3bn
2016$76.0bn
2017$77.1bn
2018$79.7bn
2019$78.4bn
2020$90.4bn
2021$100.2bn
2022$91.7bn
2023$89.1bn
2024$88.5bn
Payments to US life insurance beneficiaries, 2015 to 2024. Payments rose sharply in 2020 and 2021 and have since eased. (ACLI (Life Insurers Fact Book 2025), Nov 2025)
  • US payments to beneficiaries in 2024 were down 0.6% from $89.1 billion in 2023. Individual policies paid $66.2 billion, group policies $22.1 billion and credit policies $0.26 billion. (ACLI (Life Insurers Fact Book 2025), Nov 2025)
  • Payments to US life insurance beneficiaries were $74.3 billion in 2015, $90.4 billion in 2020, $100.2 billion in 2021 and $91.7 billion in 2022. (ACLI (Life Insurers Fact Book 2025), Nov 2025)
  • US life insurers paid on 3.72 million policies and certificates in 2024, against 4.38 million in 2021. (ACLI (Life Insurers Fact Book 2025), Nov 2025)
  • In 2024, $797 million of US life insurance claims were in dispute: $269 million in new claims and $528 million in other claims. Of this, $183 million was paid during the year and $243 million was still resisted at the end of it. (ACLI (Life Insurers Fact Book 2025), Nov 2025)

ACLI's beneficiary payments are death benefits on life insurance policies. They leave out surrender values, policyholder dividends and annuity payments. The count is of policies paid, not of deaths.

How much lost or unclaimed life insurance has been found?

  • The NAIC's online Policy Locator has received more than 1.5 million policy search requests, and US insurers have reported more than 780,000 matches with life insurance policies or annuities. (NAIC (Life Insurance Policy Locator), Sep 2026)
  • Through 31 August 2025 the US tool had produced over 611,000 matches totalling $13.18 billion. (NAIC (Policy Locator, 2025 release), Sep 2025)
  • Through 31 August 2024 the US tool had produced 460,952 matches, with companies reporting claim amounts of $10,117,434,892. (NAIC (Policy Locator, 2024 release), Sep 2024)
  • Through 30 June 2023 the US tool had produced 312,557 matches, with companies reporting claim amounts of $6,033,957,707. (NAIC (Policy Locator, 2023 release), Sep 2023)

Policy Locator totals are cumulative since the tool launched in November 2016, include annuities and are the claim amounts reported by insurers. The cut-off month differs between releases.

What does the wider US life and health sector pay out?

The Federal Insurance Office total covers every line written by life and health insurers, annuities and accident and health included. It is a different measure from ACLI's death benefits and the two are not compared.

How many life insurance policies lapse?

A few per cent of individual cover is given up voluntarily each year in the US, and the rate rose in 2024. Term policies are dropped in large numbers when the level premium period ends.

5.3% 2014 5.4% 2015 5.2% 2016 5.7% 2017 5.7% 2018 5.5% 2019 5.0% 2020 4.6% 2021 5.2% 2022 5.4% 2023 5.8% 2024
View data table
US individual life insurance voluntary termination rate by face amount, lapses plus surrenders, 2014 to 2024.
PeriodValue
20145.3%
20155.4%
20165.2%
20175.7%
20185.7%
20195.5%
20205.0%
20214.6%
20225.2%
20235.4%
20245.8%
US individual life insurance voluntary termination rate by face amount, lapses plus surrenders, 2014 to 2024. (ACLI (Life Insurers Fact Book 2025), Nov 2025)

ACLI publishes termination rates on two bases, by face amount and by number of policies. They are different measures and are kept apart. The NAIC surrender total is for all life contracts on the statutory statement, which include annuities, so it is not a count of lapsed life insurance.

What happens when a level term premium period ends?

  • In US insurer experience, shock lapses at the end of the level term ranged from 27% to 96% under the Jump to ART premium structure and from 31% to 80% under graded structures, depending on the size of the premium increase. Later lapse rates levelled out at approximately 10%. (Society of Actuaries (post-level term experience study), May 2021)
  • Mortality in the first year after the level term ranged from 154% to 1,066% of level term mortality under Jump to ART and from 127% to 247% under graded structures, in the same US study. (Society of Actuaries (post-level term experience study), May 2021)
  • A US study of 2015-2022 experience covered about 135.9 million policies exposed and $30.6 trillion of face amount, with 5.4 million surrenders and lapses worth $1.4 trillion. Whole life was over 60% of exposure by count and around 18% by amount, and lapse rates on 30-year level term were between 1.0% and 1.5% at attained ages 60 and older. (SOA Research Institute and LIMRA (2015-2022 lapse study), Dec 2024)

These are experience studies of data supplied by participating US insurers, not industry totals. Exposure is counted across the study years, so it is not a number of policies in force.

How big is the US life insurance industry?

It depends on who is counting and what. Premium, assets and company counts come from different producers on different bases, so every figure here is tied to its source and year.

$179.3bn 2016 $187.0bn 2017 $185.4bn 2018 $193.3bn 2019 $192.8bn 2020 $210.1bn 2021 $213.9bn 2022 $213.9bn 2023 $224.5bn 2024 $233.5bn 2025
View data table
US life insurance direct written premium, 2016 to 2025, from insurers' statutory filings. This is premium on all policies in force, not new sales.
PeriodValue
2016$179.3bn
2017$187.0bn
2018$185.4bn
2019$193.3bn
2020$192.8bn
2021$210.1bn
2022$213.9bn
2023$213.9bn
2024$224.5bn
2025$233.5bn
US life insurance direct written premium, 2016 to 2025, from insurers' statutory filings. This is premium on all policies in force, not new sales. (NAIC (2025 annual life industry report), Jun 2026)
  • US life direct written premium in 2025 was up from $224.5 billion in 2024 and $179.3 billion in 2016. (NAIC (2025 annual life industry report), Jun 2026)
  • Total direct written premiums and deposits of US life and accident and health insurers rose 6.0% to $1.5 trillion in 2025 ($1,513.7 billion). Annuities rose 4.2% to $546.4 billion, accident and health was $236.5 billion and deposits were $423.8 billion. (NAIC (2025 annual life industry report), Jun 2026)
  • The US life insurance industry reported net income of $30.6 billion in 2025, up 30.7%, and total net admitted assets of $10.0 trillion, up 6.9%. (NAIC (2025 annual life industry report), Jun 2026)
  • Total capital and surplus rose 5.7% to $540.7 billion in 2025 among US insurers filing the NAIC life, accident and health annual statement. (NAIC (2025 annual life industry report), Jun 2026)
  • 727 companies filed the NAIC life, accident and health annual statement at the end of 2025, down from 814 in 2016. Twelve of them reported being party to a merger. (NAIC (2025 annual life industry report), Jun 2026)
  • Life insurance premiums in selected US states in 2025: California $22,106 million, Texas $16,767 million, Florida $13,856 million, New York $13,791 million, Illinois $8,346 million, New Jersey $7,799 million and Pennsylvania $7,584 million. (NAIC (2025 annual life industry report), Jun 2026)
  • US life direct written premium was $118.0 billion in the first half of 2026, up 5% from $112.9 billion in the first half of 2025. (NAIC (2026 mid-year life industry report), Oct 2026)
  • Total US direct written premium and deposits fell 1% to $731.5 billion in the first half of 2026, as annuities fell 3%. (NAIC (2026 mid-year life industry report), Oct 2026)

Four producers appear in this section. The NAIC reports 2025 direct premium before reinsurance for insurers that file its life, accident and health statement. ACLI reports 2024 premium net of reinsurance and counts companies on its own basis. The Federal Reserve reports financial assets, and the Federal Insurance Office reports the whole life and health sector. Their premium, asset and company figures are not added together or reconciled. The Federal Insurance Office publishes its own 2025 capital and surplus figure from a different data source; only the NAIC figure is shown here. Half-year figures are not comparable with full years.

What do ACLI's 2024 totals show?

  • US life insurers held $9.26 trillion in total assets at the end of 2024, of which bonds were $4.41 trillion, stocks $2.42 trillion and mortgages $873 billion. (ACLI (Life Insurers Fact Book 2025), Nov 2025)
  • 711 life insurance companies were in business in the US at the end of 2024: 530 stock, 106 mutual, 65 fraternal and 10 other. There were 719 in 2023 and 830 in 2014, and ACLI says the number peaked in 1988. (ACLI (Life Insurers Fact Book 2025), Nov 2025)
  • US life insurance net premium receipts were $173.2 billion in 2024: $137.8 billion for individual life and $35.4 billion for group life. Renewal premium was 72.1% of the total. (ACLI (Life Insurers Fact Book 2025), Nov 2025)
  • US insurers of all kinds employed 3 million people in 2024, up 1%. Of 1.6 million home-office staff, 309,300 worked in life insurance, alongside 1.4 million agents, brokers and service staff. (ACLI (Life Insurers Fact Book 2025), Nov 2025)
  • ACLI says 90 million American families rely on life insurers' products, a count that takes in annuities and workplace benefits as well as life insurance. (ACLI (Life Insurers Across America), Nov 2026)

ACLI's asset total covers annuity and separate-account business as well as life insurance. Net premium moves with reinsurance deals as well as sales, so year-on-year changes are not a measure of demand. The 90 million figure is the trade association's own estimate.

What do the Federal Reserve's financial accounts show?

  • US life insurance companies held $11.49 trillion in total financial assets at the end of the second quarter of 2026, after $11.08 trillion at the end of 2025, $10.36 trillion at the end of 2024 and $9.75 trillion at the end of 2023. (Federal Reserve (Z.1 Financial Accounts), Sep 2026)
  • US households held $2.22 trillion in life insurance reserves at the end of the second quarter of 2026, after $2.17 trillion at the end of 2025. Life insurance reserves outstanding totalled $2.85 trillion, of which $2.64 trillion were liabilities of life insurance companies. (Federal Reserve (Z.1 Financial Accounts), Sep 2026)
  • US life insurance companies' pension entitlement liabilities, which cover annuity and pension business, were $5.01 trillion at the end of the second quarter of 2026. (Federal Reserve (Z.1 Financial Accounts), Sep 2026)

The financial accounts measure financial assets and reserves, not face amount or premium. Reserves are the value built up in policies, most of it owned by households.

How does life insurance compare with annuities in the sector?

  • US life and health insurers wrote just under $1.1 trillion of direct premiums and annuity considerations in 2025, which the Federal Insurance Office calls a record high for the sector. That was 49.5% of direct premiums for the life and health and property and casualty sectors combined. (US Treasury FIO (2026 annual report), Sep 2026)
  • Individual and group life insurance premiums were 20.1% of the US life and health sector's net premiums, considerations and deposits in 2025. Annuity premiums and deposits were 55.4% and accident and health premiums 24.0%. (US Treasury FIO (2026 annual report), Sep 2026)
  • 712 life and health insurers were licensed in the United States during 2025. (US Treasury FIO (2026 annual report), Sep 2026)

How many US workers get life insurance through their job?

Most full-time workers are offered it, and almost everyone who is offered it takes it. Part-time and low-paid workers are far less likely to have the option.

57% Mar 2023 58% Mar 2024 59% Mar 2025 59% Mar 2026
View data table
Share of US private industry workers with access to employer-provided life insurance, March of each year. Each year comes from the release for that year; the link is to the latest one.
PeriodValue
Mar 202357%
Mar 202458%
Mar 202559%
Mar 202659%
Share of US private industry workers with access to employer-provided life insurance, March of each year. Each year comes from the release for that year; the link is to the latest one. (BLS (Employee Benefits, March 2026), Sep 2026)
  • 84% of US state and local government workers and 63% of all civilian workers had access to employer-provided life insurance in March 2026. (BLS (Employee Benefits, March 2026), Sep 2026)
  • The take-up rate for employer life insurance was 98% among US civilian, private industry and state and local government workers in March 2026. 58% of private industry workers took part in a plan. (BLS (Employee Benefits, March 2026), Sep 2026)
  • In US private industry in March 2026, 74% of full-time workers had access to employer life insurance, against 14% of part-time workers. (BLS (Employee Benefits, March 2026), Sep 2026)
  • Access in US private industry in March 2026 was 79% in management, professional and related occupations and 33% in service occupations. It was 92% for the highest 10% of wage earners and 28% for the lowest 25%. (BLS (Employee Benefits, March 2026), Sep 2026)
  • In US private industry in March 2026, 83% of union workers and 57% of nonunion workers had access. The rate was 40% in establishments with 1 to 49 workers and 86% in those with 500 workers or more. (BLS (Employee Benefits, March 2026), Sep 2026)
  • In March 2025, 42% of US private industry workers in establishments with fewer than 100 workers had access to life insurance plans, against 72% in establishments with 100-499 workers and 87% in those with 500 or more. (BLS (Employee Benefits, March 2025), Sep 2025)
  • US employers spent an average of $0.06 per hour worked on life insurance for civilian workers in June 2026, 0.1% of total compensation of $49.46 per hour. The cost was $0.05 in private industry and $0.08 in state and local government. (BLS (Employer Costs for Employee Compensation, June 2026), Sep 2026)

The BLS counts what employers offer: access means the plan is available to the worker, participation means the worker is enrolled, and take-up is participation among those with access. LIMRA's workplace figures below come from a survey of what insured adults say they hold. The two are different measures. The employer cost is an average across all workers, including those without the benefit.

How many insured Americans rely on workplace cover?

How large are the US federal group life plans?

  • Servicemembers' Group Life Insurance had $1.1 trillion of insurance in force on 2.2 million policies at the end of 2024. ACLI calls it the largest life insurance plan in the US. (ACLI (Life Insurers Fact Book 2025), Nov 2025)
  • The Federal Employees' Group Life Insurance programme covers more than four million US federal employees and retirees. The Office of Personnel Management calls it the largest group life insurance programme in the world. (OPM (FY 2025 budget justification), 2024)
  • Outlays from the US federal employees' life insurance fund were $3,806 million in fiscal year 2023, and the fund balance at the end of the year was $50,766 million. (OPM (FY 2025 budget justification), 2024)

Fund outlays include administration as well as benefit payments.

How long do Americans live?

Longer than before the pandemic. Life expectancy has recovered the ground it lost in 2020 and 2021, and deaths fell in 2024.

78.9 2014 78.7 2015 78.7 2016 78.6 2017 78.7 2018 78.8 2019 77.0 2020 76.4 2021 77.5 2022 78.4 2023 79.0 2024
View data table
US life expectancy at birth, both sexes, 2014 to 2024, in years.
PeriodValue
201478.9
201578.7
201678.7
201778.6
201878.7
201978.8
202077.0
202176.4
202277.5
202378.4
202479.0
US life expectancy at birth, both sexes, 2014 to 2024, in years. (CDC NCHS (United States Life Tables, 2024), Aug 2026)
  • US life expectancy at birth rose 0.6 year from 78.4 in 2023. In 2024 it was 81.4 years for females and 76.5 years for males. (CDC NCHS (Data Brief 548), Jan 2026)
  • US life expectancy at age 65 was 19.7 years in 2024: 20.8 years for females and 18.4 years for males. (CDC NCHS (Data Brief 548), Jan 2026)
  • 3,072,666 resident deaths were registered in the US in 2024, 18,298 fewer than in 2023. The age-adjusted death rate fell 3.8% to 722.1 deaths per 100,000. (CDC NCHS (Data Brief 548), Jan 2026)
  • The leading causes of death in the US in 2024 were heart disease, cancer, unintentional injuries, stroke and chronic lower respiratory diseases. (CDC NCHS (Data Brief 548), Jan 2026)
  • Under 2024 US death rates, 84.1% of people survive to age 65, 43.8% to age 85 and 2.1% to age 100. (CDC NCHS (United States Life Tables, 2024), Aug 2026)
  • US life expectancy at birth in 2024 by race and Hispanic origin: Asian non-Hispanic 85.8 years, Hispanic 81.8, White non-Hispanic 78.9, Black non-Hispanic 74.8 and American Indian and Alaska Native non-Hispanic 71.1. (CDC NCHS (United States Life Tables, 2024), Aug 2026)
  • US life expectancy at birth was 78.8 years in 2019, 77.0 in 2020, 76.4 in 2021 and 77.5 in 2022. (CDC NCHS (United States Life Tables, 2024), Aug 2026)

These are period life tables for the whole US population: they show what would happen if one year's death rates applied for a lifetime. They describe mortality, not insured lives, and are here as context for the claims figures.

How many people in the UK have life insurance?

Fewer than three in ten UK adults hold a life policy on the regulator's survey. Most people with pure protection bought it themselves, not through an employer.

  1. 1 Whole of life 66%
  2. 2 Term assurance 60%
  3. 3 Accelerated critical illness 59%
  4. 4 Guaranteed acceptance over-50s 52%
  5. 5 Standalone critical illness 49%
  6. 6 Income protection 40%
UK pure protection claims ratios by product, 2024 new business: projected claims as a share of projected premiums, both at present value. (FCA (pure protection market study, interim report), Jan 2026)
  • 13% of UK adults held critical illness cover in May 2024 and 14% held private medical insurance. (FCA (Financial Lives 2024), May 2025)
  • 46% of UK adults, or 24.9 million, held at least one protection product in May 2024, unchanged from 2020. (FCA (Financial Lives 2024), May 2025)
  • In the two years to May 2024, about 1.9 million UK adults applied for life insurance and 6% were declined. Critical illness cover had the highest refusal rate, at 7% of 0.8 million applicants. (FCA (Financial Lives 2024), May 2025)
  • Approximately 30% of UK adults, around 16.2 million people, held a pure protection policy in May 2024. Of these, 11.5 million bought the policy directly, 3.4 million held policies provided through employers and 1.4 million held a mix. (FCA (pure protection market study, interim report), Jan 2026)
  • UK pure protection claims ratios on 2024 new business: whole of life 66%, term assurance 60%, accelerated critical illness 59%, guaranteed acceptance over-50s insurance 52%, standalone critical illness 49% and income protection 40%. (FCA (pure protection market study, interim report), Jan 2026)
  • The average lapse rate on UK pure protection policies in force in 2024 was 5%. The highest rate was on non-advised intermediated sales with 4-year clawback, at 23% within the first year of the policy. (FCA (pure protection market study, interim report), Jan 2026)
  • The UK Financial Ombudsman received 3,143 pure protection complaints in 2024, of which 515 were upheld, an uphold rate of 16%. There were 13.8 million policies in force. (FCA (pure protection market study, interim report), Jan 2026)
  • The top 5 insurers accounted for approximately 80% of annual new business premiums across UK individual pure protection product lines in 2023. (FCA (pure protection market structure paper), Sep 2025)

The Financial Conduct Authority uses two definitions. Protection products is the wide one and takes in items such as private medical insurance. Pure protection means life insurance, critical illness cover or income protection insurance. The UK survey asks different questions of a different population from the US Barometer, so the UK and US ownership shares are not comparable. Claims ratios and lapse rates come from the regulator's sample of firms and are not comparable with the US termination rates.

How much does UK group life insurance pay out?

  • UK group life assurance paid 12,730 claims worth £1,825,938,475 in 2025, an average of £143,436 per claim. (GRiD (2026 claims survey), Jun 2026)
  • The UK group risk industry paid out a record £2.69bn in claims in 2025 across group life, income protection and critical illness, or £7.36m a day. (GRiD (2026 claims survey), Jun 2026)
  • Cancer was the main cause of new UK group life assurance claims in 2025 at 33%, with ischaemic heart disease at 15%. (GRiD (2026 claims survey), Jun 2026)
  • UK group life assurance paid 12,567 claims worth £1,737,008,300 in 2024, an average of £138,220. (GRiD (2025 claims survey), May 2025)
  • UK group life assurance policies paid total benefits of £1.69bn in 2023. (GRiD (2024 claims survey), May 2024)

GRiD is the UK group risk industry body and these are figures it compiles from its member insurers. They cover employer-sponsored cover only.

How long do people in the UK live?

UK figures are three-year averages and are not directly comparable with the single-year US figures.

How fast are life insurance premiums growing worldwide?

Global life premiums grew faster in 2025 than their ten-year trend, with China and advanced Asia-Pacific out in front. Swiss Re expects slower growth in 2026.

  1. 1 United States $3,763bn
  2. 2 China $851bn
  3. 3 United Kingdom $491bn
  4. 4 France $384bn
  5. 5 Japan $327bn
  6. 6 Germany $296bn
  7. 7 Italy $205bn
  8. 8 Canada $191bn
  9. 9 South Korea $186bn
  10. 10 India $151bn
The ten largest insurance markets by total premium volume in 2025, in nominal US dollars. This table covers life and non-life insurance combined, not life alone. (Swiss Re Institute (sigma 2/2026), Jul 2026)
  • Forecast: Swiss Re Institute expected in July 2026 that global life premiums would grow 2.3% in real terms in 2026, or 7.0% in nominal terms, above the 2015-2024 trend of 1.9%. (Swiss Re Institute (sigma 2/2026), Jul 2026)
  • Life premiums in advanced markets grew 3.1% in real terms in 2025: North America 1%, advanced Asia-Pacific 8.4% and Japan 0.9%, while the UK contracted 2.9%. (Swiss Re Institute (sigma 2/2026), Jul 2026)
  • Life premiums in emerging markets grew 6.6% in real terms in 2025, led by China at 9.4%. Excluding China, emerging market growth was 2.7%, Latin America contracted 4.1% and premiums in Brazil fell 16.6%. (Swiss Re Institute (sigma 2/2026), Jul 2026)
  • Forecast: Swiss Re Institute expects real life premium growth of 0.1% in North America and -0.1% in the US in 2026, after 11.4% in North America in 2024, which it calls the strongest growth in a decade. (Swiss Re Institute (sigma 2/2026), Jul 2026)
  • Forecast: Swiss Re Institute puts average annual global life premium growth at 2.3% in real terms over 2027-2036, against 1.9% over 2016-2025, with advanced markets supplying 56% of the additional premium volume. (Swiss Re Institute (sigma 2/2026), Jul 2026)
  • Forecast: Swiss Re Institute expects global life risk premium growth, meaning protection business, to settle at 2.0% over 2026-2027, with emerging markets the primary growth engine. (Swiss Re Institute (sigma 2/2026), Jul 2026)
  • Forecast: Swiss Re Institute expects emerging market life premium growth of 5.4% in real terms in 2026 and 5.1% in 2027, with China moderating to around 6.0% in 2026. (Swiss Re Institute (sigma 2/2026), Jul 2026)
  • For life and non-life insurance combined, world premiums were $8,479bn in 2025 on Swiss Re's count. The US wrote $3,763bn (44.4% of the world), China $851bn (10.0%) and the UK $491bn (5.8%). (Swiss Re Institute (sigma 2/2026), Jul 2026)
  • Other large markets by total premium volume in 2025, life and non-life combined: France $384bn, Japan $327bn, Germany $296bn, Italy $205bn, Canada $191bn, South Korea $186bn and India $151bn. (Swiss Re Institute (sigma 2/2026), Jul 2026)

Swiss Re's growth rates are adjusted for inflation unless stated, and its life premiums include savings and annuity business, so they are not comparable with LIMRA's US sales. Swiss Re counts health business as non-life. The world premium total is Swiss Re's; other producers publish different world totals on other scopes and they are not shown here.

What does the OECD report for life premiums and claims?

  • Life gross written premiums grew 11.5% in nominal terms and 7.0% in real terms in 2025 on average across 52 reporting OECD and non-OECD jurisdictions, on preliminary data. Life claims payments grew 4.5% in nominal terms and 0.1% in real terms. (OECD (preliminary 2025 data), Jun 2026)
  • Average life premium growth across reporting jurisdictions was 11.9% in nominal terms and 7.8% in real terms in 2024, up from 6.5% and 0.9% in 2023. (OECD (Global Insurance Market Trends 2025), Dec 2025)
  • Life gross claims payouts rose on average by 7.5% in nominal terms and 3.5% in real terms in 2024 across reporting jurisdictions, after 10.1% and 4.6% in 2023. (OECD (Global Insurance Market Trends 2025), Dec 2025)

OECD growth rates are simple averages across the jurisdictions that report, so a small market counts as much as a large one. Swiss Re's rate is for the world total. The two are different measures and are not averaged.

How does life insurance compare across countries?

Life premiums take a larger share of the economy in the UK than in the US, and both sit above the OECD average. Each country's own figures use local definitions, so they are listed separately and not ranked against each other.

4.5% 2014 4.5% 2015 4.4% 2016 4.4% 2017 4.4% 2018 4.5% 2019 4.8% 2020 4.7% 2021 4.5% 2022 4.4% 2023 4.9% 2024
View data table
US life insurance penetration, life premiums as a share of GDP, 2014 to 2024.
PeriodValue
20144.5%
20154.5%
20164.4%
20174.4%
20184.4%
20194.5%
20204.8%
20214.7%
20224.5%
20234.4%
20244.9%
US life insurance penetration, life premiums as a share of GDP, 2014 to 2024. (OECD (Global Insurance Market Trends 2025), Dec 2025)
  • Life insurance premiums were 4.9% of GDP in the United States in 2024 and 8.0% in the United Kingdom, against an OECD average of 3.5%. (OECD (Global Insurance Market Trends 2025), Dec 2025)
  • Life insurance penetration in other jurisdictions in 2024: Luxembourg 28.3%, Hong Kong (China) 16.9%, Sweden 10.2%, Chinese Taipei 9.7%, Denmark 8.7%, Ireland 8.2%, France 6.3%, Japan 6.0%, Italy 5.1%, Canada 3.5%, Brazil 2.3%, Germany 2.1%, Spain 1.8% and Mexico 1.2%. (OECD (Global Insurance Market Trends 2025), Dec 2025)
  • In 2014, life insurance penetration was 4.5% in the US and 4.4% on the OECD average. UK penetration was 9.6% in 2018 and 7.6% in 2022. (OECD (Global Insurance Market Trends 2025), Dec 2025)

Penetration is direct gross life premiums written as a share of GDP. It includes savings and annuity-type life business, not protection alone. The country figures in the parts below come from each market's own industry body or regulator and are not comparable with each other or with the US figures above.

How much life insurance is written in Europe?

European life premiums include savings and unit-linked business.

How much life insurance do Canadians hold?

How many households in Japan have life insurance?

Japan's figures are for households and include annuity products, so they are not comparable with the adult-level US and UK surveys.

What share of death claims are paid in Australia?

The regulator publishes these rates as decimals; they are shown here to one decimal place. An admitted claim is one where the benefit is paid or payable. The claims paid ratio is a different measure from the UK claims ratios above.

Glossary

Face amount
The death benefit a policy promises to pay. Cover in force and cover purchased are counted in face amount, which is far larger than the premium paid.
In force
Policies that are active at a given date. Counts are of policies and group certificates, not of people.
New annualized premium
LIMRA's sales measure up to 2025: premium on newly sold individual policies, expressed for a year. It is not total premium income.
AWEP
Annualized with excess premium, the sales measure LIMRA has reported since the first quarter of 2026. It is not comparable with the earlier measure.
Direct written premium
Premium an insurer writes before reinsurance, on new and existing policies. The NAIC reports this from statutory filings.
Net premium receipts
Premium after reinsurance. ACLI reports this, and it can move with reinsurance deals as well as with sales.
Term life
Cover for a set period that pays only a death benefit and builds no cash value.
Whole life
Permanent cover with fixed premiums that builds a cash value.
IUL and VUL
Indexed universal life and variable universal life: permanent policies whose cash value is linked to a market index or to investment funds.
Cash value
The savings element inside a permanent policy, which the owner can borrow against or take on surrender.
Lapse and surrender
A lapse is a policy ended because premiums stop. A surrender is a policy given up for its cash value. ACLI adds the two to get the voluntary termination rate.
Shock lapse
The jump in lapses when a level term policy reaches the end of its level premium period and the premium rises.
Need gap
LIMRA's term for adults who say they need life insurance or more of it.
Access, participation, take-up
BLS terms. Access means the employer offers the plan to the worker, participation means the worker is enrolled, and take-up is the share of workers with access who take part.
Group certificate
One person's cover under a group policy, usually arranged by an employer.
Pure protection
The UK regulator's term for life insurance, critical illness cover and income protection insurance.
Penetration
Life premiums written in a year as a share of GDP.
Real growth
Growth after removing inflation. Nominal growth includes it.
Period life expectancy
The average length of life if the death rates of one period applied throughout a lifetime.

Methodology and sources

Every figure on this page comes from the producer's own report, release or dataset, linked beside the number with its date. The US is the main market; UK, European, Canadian, Japanese, Australian and world figures are labelled as such. Producers that measure different things are kept apart: LIMRA's Barometer survey (what adults say they hold), LIMRA's sales survey (new premium), ACLI (statutory totals for 2024), the NAIC (statutory filings for 2025), the Federal Reserve (family survey and balance sheets), the BLS (what employers offer), the CDC and ONS (life tables), Swiss Re (world totals) and the OECD (averages across jurisdictions). Their figures are not added, averaged or reconciled. Where a producer has printed two values for the same thing, the later or more formal one is used, and final results replace preliminary ones. Where two producers publish different totals for the same year, only one is shown, with its producer and scope stated. Forecasts are labelled with who made them and when. Figures that could not be opened at the producer's own page are left out, as are shares or ratios that the producer did not print. The word record appears only where the producer used it. The page is reviewed monthly.