Industry Associations Unite to Help Address the Life Insurance Coverage Gap in the United States

WINDSOR, Conn., Feb. 1, 2020 — Seven U.S. life insurance trade associations today announced they are pooling their resources to support the efforts of life insurers and financial security professionals as they help Americans get life insurance coverage and the certainty it provides at a time of great financial insecurity for many Americans.

LL Global, the parent organization of LIMRA and LOMA, the American Council of Life Insurers, Finseca, Life Happens, Million Dollar Round Table (MDRT), National Association of Insurance and Financial Advisors (NAIFA) and National Association of Independent Life Brokerage Agencies (NAILBA) have launched Help Protect Our Families, to raise awareness about the value of life insurance and to help the industry address the coverage gap that exists in the U.S.

In 2020, just 54 percent of Americans had life insurance coverage, a significant decline from 63 percent just a decade ago, according to research by LIMRA and Life Happens. Even those who have life insurance may not have enough coverage to adequately support their families. LIMRA research finds there are an estimated 60 million uninsured and underinsured American households, with an average coverage gap of $200,000. The coronavirus crisis has emphasized this risk and financial vulnerabilities, and it is critical that our industry engage and educate Americans about the important role life insurance plays in a family’s financial security.

The seven trade associations have agreed to leverage their unique expertise and resources to develop and share consumer insights and industry best practices that will help carriers and financial security professionals reach those families who are at risk of not having proper coverage.

The COVID-19 pandemic has highlighted the fragility of life and heightened people’s anxieties around their physical, emotional and financial health. While our industry cannot prevent the human tragedy unfolding in our country, we have an opportunity and obligation to help more Americans secure the financial protection they need.

Together, we believe we can help fulfill the industry’s noble purpose and provide Americans a level of financial peace of mind and stability at a time when so much else is uncertain.

To learn more about the campaign, please visit