Life Insurance: Stats and Facts

Life Insurance: Stats and FactsSeptember 2015

United States by the Numbers

Presentation for Life Insurance Awareness Month | September 2015 © General Re Life Corporation 2

$3,800average American

family savings account balance

$51,939Median annual

household income

$905Median monthly

rent payment

$35,000average amount

saved for retirement

45.3 million number of

persons below poverty level

2.54Average number of persons per

household

65.1% homeownership

rate

$268,900median sales

price of new home

Source: U.S. Census Bureau, Population Division, 2013 American Community Survey; Department of Housing and Urban Development; Federal Reserve; Internal Revenue Service

Data for 2013

$796 $780 $790 $799 $808 $801

$872 $857 $870 $882 $895 $886

$722 $716 $715 $724 $730 $726

$500

$600

$700

$800

$900

$1,000

1Q 2014 2Q 2014 3Q 2014 4Q 2014 1Q 2015 2Q 2015

Total Male Female

Median Weekly Earnings

Employed Full-time, Wage and Salary Workers


Source: Bureau of Labor Statistics, U.S. Department of Labor, 2015

Amount of Readily-Available Emergency Savings


26%No emergency

savings

24%<3 months’

living expenses

17%3 to 5 months’

expenses

23%Enough to cover ≥6 months’

expenses

Source: Bankrate.com, Financial Security Index Survey, 2014 (Does not total 100% due to “don’t know/refused” responses)

The likelihood of having enough money to cover six months’ worth of expenses—the general rule of thumb for emergency savings—goes up with consumers’ income. Still, even among consumers who make $75,000 a year or more,

fewer than half (46%) have enough to cover six months’ expenses or more.

Life Expectancy by Age and Gender

Data for 2013


At Age Male Female5 72.0 76.710 67.1 71.715 62.1 66.820 57.3 61.825 52.6 57.030 48.0 52.135 43.3 47.340 38.7 42.645 34.1 37.950 29.7 33.3

At Age Male Female55 25.6 28.960 21.7 24.665 17.9 20.570 14.4 16.675 11.2 12.980 8.3 9.785 5.9 7.090 4.1 4.895 2.8 3.3100 2.0 2.3

Source: Centers for Disease Control and Prevention, National Center for Health Statistics, Deaths: Final Data for 2013, released December 2014

U.S. Life Expectancy (Both Sexes): 78.8 Years

States With the Highest and Lowest Death Rates

Data for 2013; Age-Adjusted


651.0 649.3 646.3 630.1 590.8

Minnesota New York Connecticut California Hawaii

959.6 925.2 923.8 910.7 899.9

Mississippi Alabama WestVirginia

Oklahoma Kentucky

Highest Lowest

Source: Centers for Disease Control and Prevention, National Center for Health Statistics, Deaths: Final Data for 2013, released December 2014

U.S. Death Rate=731.9 per 100,000 U.S. population

214.5196.0

47.5 36.753.1

19.3

134.3 139.5

38.5 35.2 26.6 37.5

HeartDisease

MalignantNeoplasm(Cancer)

Chronic LowerRespiratory

Disease

CerebrovascularDisease

UnintentionalInjury

Alzheimer’s Disease

Male Female

Death Rates by Gender

Age-Adjusted Death Rates per 100,000 U.S. Population for Selected Causes of Death by Gender, 2013


163.2

Combined

169.8 23.539.442.1 36.2

Source: Centers for Disease Control and Prevention, Health, United States, 2014

Ten Leading Causes of Death

Data for 2013; Total Number of Deaths for All Causes = 2,596,993


41,149

47,112

56,979

75,578

84,767

128,978

130,557

149,205

584,881

611,105

Intentional self-harm (suicide)

Nephritis, nephrotic syndrome and…

Influenza and Pneumonia

Diabetes

Alzheimer’s disease

Stroke (cerebrovascular diseases)

Accidents (unintentional injuries)

Chronic lower respiratory diseases

Cancer

Heart disease

Total number of deaths for top ten = 1,910,311

(74% of all causes)

Source: Centers for Disease Control and Prevention, Health, United States, 2014

2Cause of death rank:

1

2Number of deaths:

611,105

2Deaths per 100,000

population:193.3

1Number of adults with diagnosed

heart disease:26.6 million

Heart Disease Facts


Source: Centers for Disease Control & Prevention, 1Summary Health Statistics for U.S. Adults: National Health Interview Survey, 2012; 2Deaths: Final Data for 2013

• About 1 in 4 people die of heart disease in the U.S. every year.

• It’s the leading cause of death for both men and women.

• Coronary heart disease (CHD) is the most common type of heart disease.

• Every year about 735,000Americans have a heart attack.

Estimated Number of Cancer Deaths By State, 2015


Source: American Cancer Society. Cancer Facts & Figures 2015

HI2,470

WA12,700

OR8,040

CA58,180

NV4,880

HI2,470

MT2,020

ID2,790

UT2,900

TX38,520

NM3,620

AZ11,540

CO7,590

ND1,280

SD1,630WY

1,000NE

3,480

KS5,510

OK8,100

MN9,820

IA6,440

MO12,830

WI11,550 MI

20,920

IL23,940

KY 10,200

AR6,760

LA9,040

TN 14,370

OH25,400IN

13,420

NC 19,310

FL 43,050

GA 16,460

AL10,560

MS6,360

SC10,130

ME3,300

NY34,600

PA28,640

VA14,830

WV 4,710

MA 12,710

RI 2,120

DE 2,010MD 10,470DC 990

NH2,730VT

1,360

U.S. Total589,430

NJ 16,250CT 6,840

AK1,040

Facts on Diabetes in the U.S.


Source: Centers for Disease Control and Prevention, National Diabetes Statistics Report: Estimates of Diabetes and Its Burden in the United States, 2014

That’s about 1 out of every 11 people

29.1MILLION

29.1 million people have diabetes

1 4OUTOF

do not know they have diabetes

Facts on Obesity and Diabetes

Age-adjusted Prevalence of Obesity and Diagnosed Diabetes Among U.S. Adults


Obe

sity

(BM

I ≥30

kg/

m2 )

1994 2000

<14.0% 14.0%–17.9% 18.0%–21.9% 22.0%–25.9% ≥26.0%

2013

Dia

bete

s

1994 2000

<4.5% 4.5%–5.9% 6.0%–7.4% 7.5%–8.9% ≥9.0%

2013

Source: CDC’s Division of Diabetes Translation. National Diabetes Surveillance System, 2014

Number of Fatal Work Injuries by State, 2013



Fatal Work Injuries by Gender, 2013


Source: Bureau of Labor Statistics, U.S. Department of Labor, Current Population Survey, Census of Fatal Occupational Injuries, and U.S. Census Bureau, 2015

Males, 93%

Females, 7%

Fatal work injuries = 4,585

Males, 57%

Females, 43%

Hours worked = 268,127,180,000

A disproportionate share of fatal work injuries involve men relative to their hours worked in 2013.

Occupational Deaths

The Four Most Frequent Work-Related Fatal Events


1,100

734

504413

0

300

600

900

1,200

1,500

2004 2005 2006 2007 2008 2009 2010 2011 2012 2013

Highway Incidents Falls Struck by Object or Equipment Homicides


Life Insurance Ownership


Adult Gen Y1

1981–1999

34%

57%

34%

Younger Gen X

1973–1980

42%

62%

27%

Older Gen X

1965–1972

49%

65%

23%

Younger Boomers

1957–1964

50%

63%

24%

Older Boomers

1949–1956

54%

51%

27%

Own individual life

Own group life

Do not own life insurance

Source: LIMRA, U.S. Consumers Today, The Generations, 2014 (Based on a survey of 6,015 consumers aged 25–64 years with household incomes of $25,000–$149,999 who are the financial decision makers in their households) 1Only Gen Yers who were born between 1981–1988 were surveyed

40%

77%

35%

55%

71%

86%

39%

75%

34%

53%

69%

85%

1–99 100 or more 1–49 50–99 100–499 500 or moreNumber of Employees

Access Participation

Employee Access to and Participation in Life Insurance


By Number of Employees (Private Industry)

Source: U.S. Bureau of Labor Statistics, National Compensation Survey, Employee Benefits in the United States—March 2015

57% 59% 60%50%

56% 57% 59%49%

Northeast South Midwest West




By Geographic Area (Private Industry)


72%

13%

86%

54%

71%

11%

83%

53%

Full-time Part-time Union Non-union




By Employment Status and Bargaining Status (Private Industry)


Employment Status Bargaining Status

Establishment Characteristics Civilian Private Industry State & Local Gov’t.Access Participation Access Participation Access Participation

Goods-Producing Industries 71% 70% 71% 70% -- --

Service-Providing Industries 58% 57% 54% 53% 80% 78%Education & health services 69% 67% 63% 62% 79% 77%

Educational services 76% 74% 64% 64% 79% 77%Elementary & secondary schools 76% 74% -- -- 78% 76%Junior colleges, colleges & universities 84% 81% 86% 85% 83% 79%

Health care & social assistance 64% 63% 62% 62% 80% 77%Hospitals 88% 87% -- -- 89% 86%

Public administration 83% 81% -- -- 83% 81%

All workers 60% 59% 57% 56% 80% 78%


By Industry



Proprietary Notice

The material contained in this presentation has been prepared solely for informational purposes by Gen Re. The material is based on sources believed to be reliable and/or from proprietary data developed by Gen Re, but we do not represent as to its accuracy or its completeness. The content of this presentation is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.


Life Insurance: Stats and Facts

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