Protection Research
What does the research tell us about protecting the people and plans that matter most?
Protection planning involves more than preparing for an unexpected death. Here we examine research on life insurance, living benefits, serious illness, long term care, income protection, and the financial risks that can disrupt a family's plans.
Are You Protected?
Does your current plan provide protection if something unexpected happens?
Are You Protected Enough?
Would the amount of protection actually be enough to support the people and obligations that depend on you?
Do You Have the Right Protection?
Is your coverage designed for the need you are trying to solve, for the appropriate amount of time?
The Protection Gap is Real
40%
of American adults say they need life insurance or need more coverage.
47%
say they would have difficulty paying living expenses within six months if their primary wage earner died.
51%
of American adults report owning life insurance coverage.
Source: 2025 Insurance Barometer Study, LIMRA and Life Happens
Having Coverage Is Not the Same as Having the Right Coverage
Life insurance is not one size fits all. The appropriate amount and type of coverage depend on the financial need being addressed, how long that need is expected to last, affordability, and the people or obligations the coverage is intended to protect.
How Much?
How much protection would be needed to replace income, meet financial obligations, and help support the people who depend on you?
How Long?
Is the need temporary, such as a mortgage or income replacement during working years, or is it expected to continue throughout life?
What Type?
Term and permanent insurance serve different purposes. The appropriate solution should follow the need rather than forcing the need to fit a particular product.
Source: National Association of Insurance Commissioners, Life Insurance Buyer's Guide
What if You Live Through the Unexpected?
Protection planning can also consider what happens when a serious illness interrupts income, increases expenses, or changes a family's financial plans. Some life insurance policies include living benefits that may provide access to a portion of the death benefit following a qualifying illness or medical condition.
Critical Illness
Certain policies may provide accelerated benefits following qualifying serious illnesses or medical events, subject to the policy's definitions and requirements.
Chronic Illness
Certain policies may provide accelerated benefits when an insured meets specified chronic illness requirements, such as being unable to perform certain activities of daily living.
Terminal Illness
Certain policies may provide accelerated access to a portion of the death benefit when an insured is diagnosed with a qualifying terminal illness.
Living benefit provisions, eligibility requirements, benefit amounts, costs, and availability vary by policy and insurer.
Source: National Association of Insurance Commissioners and policy specific living benefit provisions
When Protection Becomes Personal
A Real Life Example of Living Benefits
Insurance is often viewed primarily as protection for the people we leave behind. Chris's experience illustrates another side of protection: what can happen when a serious medical event occurs while you are still living.
After suffering a heart attack, Chris was able to access living benefits available through his life insurance coverage. His story demonstrates why understanding the features of a policy can matter just as much as having coverage in the first place.
Chris's experience is his own. Benefits and eligibility depend on the specific policy, medical circumstances, and policy provisions.
Protection Begins With Understanding
Effective protection planning begins with understanding what needs to be protected, how much protection may be appropriate, how long the need may exist, and what risks could affect the plan along the way. The goal is not simply to own insurance. It is to understand how the protection you have fits within your broader financial plan.