What race has the most life insurance?

Asked by: Keshaun Anderson  |  Last update: October 12, 2025
Score: 4.8/5 (34 votes)

Black Americans are more likely to own individual life insurance than the general population. Fifty- eight percent of Black Americans own individual coverage, while just 52 percent of all Americans have individual coverage. Life insurance offered through an employer is a benefit Black Americans value.

What race has the highest life?

Life expectancy is lowest for AIAN people at 67.9 years, followed by Black people at 72.8 years, while White and Hispanic people have higher life expectancies of 77.5 and 80 years, respectively, and Asian people have the highest life expectancy at 84.5 years.

What demographic buys life insurance the most?

The majority of parents (59%) own life insurance, up five percentage points from 2022, and significantly higher than the general population (52%). Among parents who own life insurance, 56% say the primary reason they own it is to cover burial costs and final expenses, slightly lower than the overall population (60%).

What is the healthiest race in America?

Whites are usually taken as the standard against which other groups are compared, but they are not necessarily in the best health. Hispanics appear to be healthier than whites on a number of measures, though not all. Asians are generally in better health than any other group (Hummer et al., 2004).

Who buys the most life insurance?

Millennial and Gen X generations are significantly more likely to own term life insurance when compared to younger and older generations. 72 percent of Gen Z Americans are likely to own permanent coverage, the most likely group of the generations.

How life insurance exacerbates the racial wealth gap

18 related questions found

Who has the greatest need for life insurance?

Perhaps the demographic with the greatest need for life insurance is young people who have become parents for the first time, according to Peter Colis, a life insurance executive and member of the Forbes Finance Council.

How many Americans have no life insurance?

HOUSTON--(BUSINESS WIRE)-- According to new research from Corebridge Financial, many Americans have a good understanding of key life insurance principles, yet nearly 6 in 10 either do not have coverage (50%) or do not know if they do (9%).

Which race is the richest?

Income Levels Vary Across Race, Education, and Sex

In 2023, individuals who identified as Asian or white had median incomes higher than the national median, while individuals who identified as Black or Hispanic had median incomes that were lower than the national median.

Which race ages the best?

Results: Findings indicated that non-Hispanic Blacks and Hispanics have accelerated aging, and non-Hispanic Whites have decelerated aging. Racial/ethnic differences were strongly tied to educational attainment. We also observed a significant difference by birthplace for Hispanics.

What ethnicity has the highest IQ score?

In the United States, Asians on average score higher than White people, who tend to score higher than Hispanics, who tend to score higher than African Americans. Much greater variation in IQ scores exists within each ethnic group than between them.

What race uses Medicaid the most?

A larger share of Medicaid and CHIP enrollees are Hispanic and non- Hispanic Black than the U.S. population, and a smaller share are non-Hispanic White. Sources: 2020 T-MSIS Analytic Files Annual Demographic and Eligibility File, Release 1; 2020 Race/Ethnicity Imputation Companion File; 2019 American Community Survey.

What race is the most uninsured?

While overall uninsured rates continued to decline in 2022, nonelderly Hispanic, Black, AIAN, and NHOPI people remained more likely than their White counterparts to be uninsured (Figure 2). Nonelderly AIAN and Hispanic people had the highest uninsured rates at 19.1% and 18.0%, respectively, as of 2022.

What race pays more for car insurance?

According to the analysis, Black drivers pay, on average, 1.46 times more than white drivers, equating to an average annual premium gap of $326. Hispanic drivers pay 1.20 times more than white drivers, and API (Asian-Pacific Islander) drivers pay the same as white drivers.

Who needs life insurance most?

People with young children are strongly recommended to have life insurance to protect their family. Homeowners should take out life insurance so that the death benefit can pay off the mortgage. Business owners and those who want to pass down a financial legacy are also advised to purchase life insurance.

What life insurance do billionaires use?

An Irrevocable Life Insurance Trust (ILIT) is a popular strategy for wealthy individuals seeking to remove life insurance proceeds from their taxable estate. When the policy is owned by the ILIT, the death benefit is not included in the individual's estate for tax purposes, which can help reduce estate taxes.

Who is likely to have the least need for life insurance?

If you have no financial obligations at your death, have no spouse or dependents that rely on your income now or in the future, or you own no property or business that would need to be purchased at your death by your business partners or liquidated for income needs, then you may not need life insurance.

What state has the most life insurance?

10 States Where the Most Life Insurance is Sold
  1. 1. California. Life insurance premiums: $15.113 billion.
  2. New York. Life insurance premiums: $11.262 billion. ...
  3. Texas. Life insurance premiums: $10.665 billion. ...
  4. Florida. Life insurance premiums: $8.421 billion. ...
  5. Illinois. ...
  6. New Jersey. ...
  7. Pennsylvania. ...
  8. Ohio. ...

What disqualifies life insurance payout?

Life insurance proceeds can be denied. Some denials are legitimate, like in case of policy lapses, material misrepresentations, or exclusions in the form of illegal activities or war. In other cases, bad-faith insurers use elaborate methods to reject claims so they do not have to pay the proceeds.

Who is the richest life insurance agent?

Meet the world's highest earning insurance agent
  • Meet the world's highest earning insurance agent.
  • Gideon du Plessis failed in the 10th standard and never went to college. ...
  • A record he has maintained over the last 12-14 years, selling 700 policies yearly. ...
  • What is Plessis' secret of success?

What is the healthiest race?

Fitness expert Harley Pasternak believes Japanese people are the world's healthiest thanks to a diet rich in fish, whole soy, seaweed and green tea. Different foods, cooking techniques and lifestyles can explain why some people of some cultures are leaner, healthier and living longer than others.

What state is #1 in healthcare?

Hawaii, Massachusetts, Minnesota, Iowa, and Connecticut are the top-ranked states according to the 2020 Scorecard, which assesses all 50 states and the District of Columbia on more than 45 measures of access to health care, quality of care, service use and costs of care, health outcomes, and income-based health care ...

What nationality has the best doctors in the world?

Here are the top 10 countries known to have the best doctors according to the World Population Review 2024:
  1. United States. The United States is often considered a global leader in the medical field. ...
  2. India. ...
  3. United Kingdom. ...
  4. Germany. ...
  5. France. ...
  6. Switzerland. ...
  7. Canada. ...
  8. Italy.