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Tom Meaglia, ChFC®, AEP®,
CLU®, CRPC®, MSFS
Chartered Financial Consultant
Investment Advisor Representative
Chartered Retirement Planning Counselor
CA Insurance Lic. #0567507
Meaglia Financial Consulting
2105 Foothill Blvd., #B140, La Verne, CA 91750
Toll Free: 800-386-3700
Bus: 909-593-6105
Cell: 818-681-8600
Fax: 909-593-6120
Email: tom@meagliafinancialconsulting.com
Website: www.meagliafinancialconsulting.com
September is National Life Insurance Awareness Month. To "celebrate," we're reviewing the latest Insurance Barometer Study* by the Life Insurance Marketing and Research Association (LIMRA) and Life Happens, a nonprofit that provides a wide range of consumereducation information. Among other topics, the study examines who owns and who doesn't own life insurance.
But even within that group, nearly four in ten reported not owning life insurance. Demographically, Gen Z and Hispanic Americans were least likely to own insurance. Study respondents without life insurance tended to be more concerned about their financial security than those who had it. Age appeared to be a factor in this concern. Gen Z was more concerned than Millennials, who were more concerned than Gen X.
Among study respondents who report having life insurance, 55% have only individual coverage (i.e., purchased in the retail market), 26% have only workplace coverage (provided as an employee benefit), and 19% have both types of coverage. However, other LIMRA research indicates that more Americans own workplace life insurance than was self-reported in this study. A combination of industry data and LIMRA research suggests that the share of Americans who have life insurance through their employer or union is closer to 40%. In general, people who have both individual life insurance and workplace coverage usually have the best financial security. They tend to have higher levels of coverage and are less likely to lose coverage due to a change in employment status.
*2025 Insurance Barometer Study, LIMRA and Life Happens
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Thomas Meaglia is an Investment Adviser Representative of Coppell Advisory Solutions LLC, dba, Fusion Capital Management, a registered investment adviser that only conducts business in jurisdictions where it is properly registered, or is excluded or exempted from registration requirements. Registration as an investment adviser is not an endorsement of the firm by securities regulators and does not mean the adviser has achieved a specific level of skill or ability. The firm is not engaged in the practice of law or accounting.
Insurance and annuity products are not sold through Fusion Capital Management. Fusion does not endorse any annuity or insurance product, nor does it guarantee any insurance or annuity performance. Annuity and life insurance guarantees are subject to the claims-paying ability of the issuing insurance company. If you withdraw money from or surrender your contract within a certain time after investing, the insurance company may assess a surrender charge. Withdrawals may be subject to tax penalties and income taxes. Persons selling annuities and other insurance products receive compensation for these transactions. These commissions are separate and distinct from Fusion's investment advisory fees.
Meaglia Financial Consulting and LTM Marketing Solutions, LLC are unrelated companies. This publication was prepared for the publication’s provider by LTM Marketing Solutions, LLC, an unrelated third party. Articles are not written or produced by the named representative.
The information and opinions contained in this web site are obtained from sources believed to be reliable, but their accuracy cannot be guaranteed. The publishers assume no responsibility for errors and omissions or for any damages resulting from the use of the published information. This web site is published with the understanding that it does not render legal, accounting, financial, or other professional advice. Whole or partial reproduction of this web site is forbidden without the written permission of the publisher.