100 Million Americans Lack Sufficient Life Insurance, Industry Survey Finds

As of June 5, 2026, close to 100 million U.S. adults report needing more life insurance, according to a new industry survey. The coverage gap persists as many rely solely on employer-provided policies without assessing individual financial obligations, dependents, and life stage. The DIME method—factoring Debt, Income replacement, Mortgage payoff, and Education costs—remains a key calculation tool. For example, a $100,000 annual earner with two children and a $250,000 mortgage might require $1.2 million in coverage. Simpler rules-of-thumb suggest multiplying salary by 7 to 12 times. More precise capital-needs analysis calculates the lump sum required to generate ongoing income from conservative returns. Life stage dramatically shifts coverage needs: young singles may need minimal protection, while families with children, special-needs dependents, or business owners often require layered permanent policies. High-net-worth individuals increasingly use life insurance inside irrevocable trusts for tax-efficient wealth transfer. Industry experts advise updating coverage after major life events, such as home purchases or business formation.