A few years back I passed on some interesting statistics from a LIMRA study about all of the uninsured and under insured Americans. I offered my thought that the reason these people didn’t buy life insurance was that they couldn’t find someone they trusted to meet their needs.

LIMRA (the former Life Insurance and Market Research Association) did a follow up study, “Why don’t consumers buy the life insurance they say they need?” This study was in their 2006 book titled Every Excuse in the Book.

The top five reasons are listed below. There are two columns of percentages. The first column is the percentage that consider it a major reason, the second stated it is a minor reason.


1. Dread high pressure sales tactics 60%-26%

2. Have other financial priorities 55%-28%

3. Difficult to decide type to buy 46%-38%

4. Difficult to decide how much to buy 44%-39%

5. Worry about making the wrong decision 36%-43%

I think you could apply all the same reasons to just about any major purchase and the percentages would likely stay in the same range. I’m thinking #1 might go up a bit with car sales, but maybe not. High pressure sales feels the same no matter who is applying the pressure on you.

At some point or another I have addressed most of these issues either on the website or in a blog. Allow me to reflect back on a few of those. Pick a question that hits home for you and please ask for any clarification you need.

Dread high pressure sales tactics

Difficult to decide what to buy

Difficult to decide what type to buy

Worry about making the wrong decision

After years of facilitating Dave Ramsey Financial Peace classes, believe me when I say I understand you have other financial tugs. But, the battle of the budget is almost always won when we really take a good hard look at what’s important in our family.

Bottom line. You can use every excuse in the book, but life insurance is the right thing to do, so start loading you portfolio with ever good reason to take your responsibilities seriously.