Many Americans know they need life insurance but put off getting a policy, according to research from Ethos.
Nichole Myers, chief underwriter at Ethos, said 72% of people surveyed knew they needed life insurance before buying a policy. Forty percent said they delayed because they assumed it was too expensive.
“I think people don't realize that a healthy 30-year-old can get, you know, a very meaningful amount of coverage for around $1 a day,” Myers said.
Myers said major life milestones, including becoming a parent, getting married or buying a home, are good times to consider coverage.
“You are never younger than you are today, so it's incredibly important to act as soon as you know that you need coverage,” she added.
She said technology has also made the process faster, with some applicants able to complete an online application in about 10 minutes and get coverage the same day.
HOW TO FIND LIFE INSURANCE:
Life Insurance Awareness Month is a good reminder that having coverage is only part of the equation; beneficiaries also need to know how to find a policy when a loved one dies.
The National Association of Insurance Commissioners (NAIC) offers a free online Life Insurance Policy Locator to help consumers find lost life insurance policies and annuity contracts belonging to deceased relatives.
“Dealing with the financial aftermath in the death of a loved one is difficult and often confusing,” said Dean Cameron, then president of the NAIC and Idaho insurance director.
The tool can be used by anyone. Consumers submit their name and address, along with information from the deceased person's death certificate, including their Social Security number, legal name, date of birth and date of death. The request is stored in a secure, encrypted database accessible to participating insurers.
“If a policy is found and you are the beneficiary, the life insurance or annuity company will contact you directly,” according to the NAIC.
The NAIC says it does not have the policy or beneficiary information itself.
The tool is available through the NAIC's consumer resources and can help families recover benefits they may not have known existed. As of Aug. 31, 2025, the locator had helped connect consumers with more than $13 billion in life insurance and annuity benefits since its launch in 2016.
CLICK HERE to find life insurance.
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