First Command Reports: Military Families Show Sustained Preference for Permanent Life Insurance

By a News Reporter-Staff News Editor at Insurance Weekly News -- Members of America's career military continue to display a clear preference for permanent life insurance, according to the latest findings of the First Command Financial Behaviors Index®.

First Command's annual life insurance survey reveals that 73 percent of middle-class military families (commissioned officers and senior NCOs in pay grades E-5 and above with household incomes of at least $50,000) own some form of permanent life coverage. And among survey respondents who don't own a permanent life policy, roughly half (49 percent) say they are likely to consider purchasing one for themselves or someone in their household. Those rates generally align with the demand recorded over the previous three years.

Interest in permanent life insurance is considerably stronger in military families than in the general population. The Index reveals that 45 percent of middle-class civilian families own some type of permanent coverage. Among non-owners, 31 percent say they are likely to consider purchasing a permanent life insurance product.

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