Life insurance ownership in the U.S. 2011-2023
Life insurance ownership in the United States rose for the first time in recent years in 2023. In 2023, 52 percent of Americans owned life insurance, up from 50 percent in 2022. Life insurance is a contract between an insurer and a policyholder, which is a form of financial protection for named beneficiaries of the insured person in case of their death. The most common reason for owning life insurance was to cover burial and final expenses.
