50-Year Low Represents High Opportunity
MADISON, Wis.-Fewer than 44% of American households have individual life insurance, according to the Life Insurance and Market Research Association (LIMRA).
"That is a 50-year low," said Eric Hansing, director of MemberCONNECT, CUNA Mutual Group's direct-to-member marketing program for core insurance products, citing LIMRA data. "Approximately 35 million households have no life insurance protection at all. So not only is there opportunity for credit unions to drive revenue, there is the opportunity for them to meet a real need among consumers."