In 2021, the average expenditure on personal insurance and pensions in the United States amounted to 7,873.19 U.S. dollars per consumer unit. The share of Americans over 64 years is forecast to rise until at least 2050, which will increase the proportion of the population reliant on private retirement savings, and Social Security benefits.
Average annual expenditure on personal insurance and pensions per consumer unit in the United States from 2007 to 2021
(in U.S. dollars)
A consumer unit consists of any of the following: (1) All members of a particular household who are related by blood, marriage, adoption, or other legal arrangements; (2) a person living alone or sharing a household with others or living as a roomer in a private home or lodging house or in permanent living quarters in a hotel or motel, but who is financially independent; or (3) two or more persons living together who use their incomes to make joint expenditure decisions. Financial independence is determined by spending behavior with regard to the three major expense categories: Housing, food, and other living expenses. To be considered financially independent, the respondent must provide at least two of the three major expenditure categories, either entirely or in part. Data are diary-based. Figures prior to 2020 have been taken from previous publications.
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Bureau of Labor Statistics. (September 1, 2022). Average annual expenditure on personal insurance and pensions per consumer unit in the United States from 2007 to 2021 (in U.S. dollars) [Graph]. In Statista. Retrieved December 03, 2024, from https://www.statista.com/statistics/1052481/us-consumer-spending-on-personal-insurance-pensions/
Bureau of Labor Statistics. "Average annual expenditure on personal insurance and pensions per consumer unit in the United States from 2007 to 2021 (in U.S. dollars)." Chart. September 1, 2022. Statista. Accessed December 03, 2024. https://www.statista.com/statistics/1052481/us-consumer-spending-on-personal-insurance-pensions/
Bureau of Labor Statistics. (2022). Average annual expenditure on personal insurance and pensions per consumer unit in the United States from 2007 to 2021 (in U.S. dollars). Statista. Statista Inc.. Accessed: December 03, 2024. https://www.statista.com/statistics/1052481/us-consumer-spending-on-personal-insurance-pensions/
Bureau of Labor Statistics. "Average Annual Expenditure on Personal Insurance and Pensions per Consumer Unit in The United States from 2007 to 2021 (in U.S. Dollars)." Statista, Statista Inc., 1 Sep 2022, https://www.statista.com/statistics/1052481/us-consumer-spending-on-personal-insurance-pensions/
Bureau of Labor Statistics, Average annual expenditure on personal insurance and pensions per consumer unit in the United States from 2007 to 2021 (in U.S. dollars) Statista, https://www.statista.com/statistics/1052481/us-consumer-spending-on-personal-insurance-pensions/ (last visited December 03, 2024)
Average annual expenditure on personal insurance and pensions per consumer unit in the United States from 2007 to 2021 (in U.S. dollars) [Graph], Bureau of Labor Statistics, September 1, 2022. [Online]. Available: https://www.statista.com/statistics/1052481/us-consumer-spending-on-personal-insurance-pensions/
