Life Insurance Facts and Statistics #1: 52% of Americans Have Some Type of Life Insurance

Financial Horizons: Insights for Building Wealth and Securing Your Legacy

By Dr. Jose G. Cardenas, Chief Tax Strategist at The C & R Group, LLC

When it comes to life insurance, America is split right down the middle. Roughly 52% of Americans have some form of life insurance coverage, while nearly half are leaving their families and financial futures at risk. But here’s the deeper truth — having life insurance doesn’t automatically mean having enough life insurance, or even the right kind.

This statistic reveals both progress and a major financial blind spot. Let’s unpack what this really means for your long-term wealth strategy.

1. Half of Americans Still Have No Financial Safety Net

If only 52% of people carry life insurance, that means 48% are gambling with fate. Without protection, a single tragedy can wipe out years of financial progress — leaving dependents to face mortgage payments, medical debt, or college costs alone.

Life insurance isn’t a luxury; it’s a foundational part of responsible planning. It’s your family’s first defense against financial disaster.

2. Many of the 52% Are Underinsured

Here’s the kicker: most of those who do have coverage are underinsured — meaning their policies wouldn’t replace even a few years of their income.

A good rule of thumb is to have coverage worth six to ten times your annual salary. Unfortunately, many people rely on minimal employer-provided policies that might only cover one or two times their salary — barely enough for funeral expenses and short-term bills.

That gap in coverage could leave your family struggling to maintain their lifestyle.

3. The “Wrong Kind” of Life Insurance Can Cost You

Not all life insurance is created equal. Term insurance, while affordable, expires after a set number of years and offers no long-term financial growth.

On the other hand, Indexed Universal Life (IUL) policies combine lifelong protection with tax-free cash accumulation — allowing you to grow wealth while safeguarding your family. It’s both a financial shield and a strategic asset in your retirement and tax plan.

At The C & R Group, LLC, we specialize in integrating IUL strategies into comprehensive financial plans, ensuring your insurance coverage works as a tool — not just a safety net.

4. It’s Not Too Late to Join the Prepared Half

If you’re part of the 48% without life insurance — or if your current coverage hasn’t been reviewed in years — the best time to act is now. The longer you wait, the higher your costs, and the smaller your financial leverage becomes.

Insurance isn’t about fear — it’s about freedom. Freedom from worry, freedom for your family, and freedom to build the legacy you’ve worked hard to create.

👉 Read more at: www.thecrgroupllc.com/blog
📅 Book your personal strategy session: Book a consultation with Dr. Cardenas

About the Author

Dr. Jose G. Cardenas is a retired U.S. Army Finance Officer and the Chief Tax Strategist at The C & R Group, LLC. With a Doctorate in Business Administration and over 20 years of experience in financial strategy, tax planning, and life insurance, Dr. Cardenas helps individuals and business owners protect their wealth and build a legacy. Learn more at www.thecrgroupllc.com.

📌 Disclosure

This article is for educational and informational purposes only and is not intended to serve as personalized legal or investment advice. Dr. Jose G. Cardenas, DBA, provides tax advisory services through The C & R Group, LLC. Insurance strategies, including Indexed Universal Life (IUL) and annuity products, may be offered through his role as a licensed financial professional affiliated with Experior Financial Group.

#FinancialHorizons #LifeInsuranceFacts #WealthProtection #IUL #TaxFreeGrowth #FinancialPlanning #LegacyBuilding #LifeInsuranceAwareness #InsuranceStrategy #TheCRGroupLLC #ExperiorFinancialGroup #FML100M