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Life insurance trends show high procrastination and loan availability
The 2026 Life Happens Life Insurance Survey reveals that 46% of U.S. adults intend to delay or skip obtaining life insurance. Common barriers to coverage include confusion, procrastination, and cost concerns, with 45% of respondents citing these factors. Additionally, approximately 40% of those surveyed reported feeling anxious or overwhelmed regarding insurance planning, while 12% specifically cited potential expenses as a deterrent.
In a separate context regarding policy utility, certain life insurance policies, such as those from the Life Insurance Corporation (LIC), allow policyholders to access loans. These loans are available for specific plans that have accumulated a surrender value, whereas term insurance policies typically do not qualify. Unlike unsecured personal loans, these policy-backed loans do not require traditional credit checks, as the policy itself serves as security. Interest rates vary by plan, with some documents noting rates around 9.5% per annum.
Entities
Brian Steiner · Life Happens · Life Insurance Corporation of India
Claims
What the coverage asserts, and how many sources carry each claim.
- [○ 1 SOURCE] Term insurance policies generally do not qualify for loans because they do not build a surrender value. news24online.com
- [● 2 SOURCES] Roughly 40% of survey respondents reported feeling overwhelmed or anxious about planning for life insurance. www.hcnews.com · pontevedrarecorder.com
- [○ 1 SOURCE] Loans can be taken against specific LIC life insurance policies that possess a surrender value. news24online.com
- [● 2 SOURCES] 12% of respondents cited the potential expense as a reason for delaying life insurance coverage. www.hcnews.com · pontevedrarecorder.com
- [● 2 SOURCES] According to the 2026 Life Happens Life Insurance Survey, 46% of U.S. adults plan to deal with getting life insurance later or not at all. www.hcnews.com · pontevedrarecorder.com
- [● 2 SOURCES] 45% of survey respondents cited confusion, procrastination, and cost concerns as reasons for delaying life insurance. www.hcnews.com · pontevedrarecorder.com
- [○ 1 SOURCE] Some LIC policy documents specify an interest rate of 9.5% per annum for certain loan periods. news24online.com