New research by Cheryl Retzloff, senior research director of LIMRA Markets, has identified a market that is largely untapped by life insurers—the single-household. According to LIMRA’s “2011 Life Insurance Buyer/Non-buyer” study that found only 39 percent of U.S. households recall having an opportunity to buy life insurance in the past two years, only 26 percent of single people recall having an opportunity to buy life insurance. This is compared to the 74 percent of married people.

“We also found that those singles who did recall having an opportunity to buy life insurance are almost as likely to buy life insurance as married households (51 percent versus 58 percent),” Retzloff said. “Companies could grow their life business by more aggressively pursuing this untapped market.”

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