More Than Half of U.S. Households Lack Life Insurance: Survey

More than half of all American households don't have life insurance, potentially jeopardizing millions of families' financial security in the event of a loved one's death.

According to a survey from LIMRA, a financial services industry group, the percentage of U.S. households with life insurance coverage stands at the lowest level in 50 years. LIMRA reports that only 44% of U.S. households own an individual life insurance policy, which gives a cash payout to one's beneficiaries when a policy holder dies.