Source: EMARKETER Forecast, February 2024 - October 2023
Note: ages 18+; individuals who are insured by an individual life insurance policy, a group life insurance policy, or both; includes individuals insured by an endowment policy, flexible-premium adjustable life insurance, and/or life settlement; excludes individuals insured exclusively by AD&D insurance; Gen Z are individuals born between 1997 and 2012; millennials are individuals born between 1981 and 1996; Gen X are individuals born between 1965 and 1980; baby boomers are individuals born between 1946 and 1964
Methodology: Estimates are based on the analysis of various elements related to the insurance market, including historical trends and revenue reports of the major players in the insurance market, historical trends in consumer behavior, reported national statistics from standard-setting organizations, government branches, census bureaus, and the Federal Reserve, and estimates from other industry associations.