ÌÇÐÄÆƽâ°æ

The number of life insurance policies in force in the United States has remained below *** million since 2009. In 2024, there were approximately *** million life insurance policies in force in the United States. 

Impact of 2008 recession on life insurance

The year after the 2008 recession, the total number of life insurance policies in force dropped from around *** million to *** million. When money is tight, it appears that consumers think life insurance is something they can’t afford, instead of a tool which can be used to protect their loved ones in an emergency. Furthermore, even though the economy has since improved, the number of life insurance policies which people have has not been able to bounce back to what it was before the crisis.

Did the life insurance sector ever fully recover?

The face value of individual policies shows an upward trend, as does the face amount of all policies since 1998. They also show a recovery since declining in the 2008 financial crisis. Moreover, the number of life insurance policy purchases seems to have reached its highest number in 2023.