Our plain-language educational approach is grounded in industry research and government data. Explore the evidence that shows why life insurance education is a national priority — and how LifeBridge is addressing the gap.
These statistics from leading industry organizations illustrate the scope of the life insurance education gap in America.
4.3%
Average annual lapse rate for individual life insurance policies in the United States.
LIMRA Persistency Report, 2023
30%
Of Americans say they need life insurance but haven't purchased it, often citing confusion about products.
LIMRA Insurance Barometer, 2024
$12T
Estimated gap between life insurance needs and actual coverage held by American families.
Swiss Re Mortality Protection Gap, 2023
44%
Of life insurance owners say they wish they better understood their policy when they purchased it.
LIMRA Consumer Survey, 2023
An in-depth look at why millions of life insurance policies are abandoned each year, and how the lack of consumer education contributes to this national problem. We examine LIMRA data showing that lapse rates remain persistently high, particularly in the first 3-5 years of policy ownership.
LIMRA's Insurance Barometer Study consistently reveals that a majority of Americans feel they don't know enough about life insurance to make informed decisions. We break down the key findings and explain why this knowledge gap leads to poor purchasing decisions and eventual policy lapses.
When a life insurance policy lapses, the consequences extend far beyond the lost premiums. Families lose financial protection, and the broader economy bears the cost of increased financial vulnerability. We examine the downstream effects of the lapse epidemic.
When you explain insurance in words people actually use, they understand what they're buying — and they keep it. We explain LifeBridge's plain-language methodology and the research showing that clear, jargon-free education is the most effective way to prevent policy lapses.
LifeBridge's educational content is informed by data and reports from these leading industry and government organizations.
Annual study tracking policy lapse and surrender rates across all major product types in the U.S. market.
Annual consumer survey measuring attitudes, knowledge, and behaviors around life insurance and financial planning.
The National Association of Insurance Commissioners' consumer guide to understanding life insurance products.
Federal strategy identifying life insurance literacy as a key component of national financial education priorities.
Global analysis of the gap between life insurance needs and actual coverage, with U.S.-specific findings.
Annual publication from the American Council of Life Insurers with comprehensive industry data and trends.