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David P. McCabe,
WMCP®, ChFC®, CLU®
Financial Planner
Nathaniel D. High,
CFP®, RICP®
Financial Planner
nathaniel@centuriafinancial.com
Nicholas J. Over, CFP®
Financial Planner
nicholas@centuriafinancial.com
Sara E. Martin
Operations Manager
Molly R. Kelsh
Client Service Specialist
Centuria Financial Group
2333 Baltimore Blvd Suite B
Finksburg, MD 21048
Phone: 443-952-7232
September/October 2026
Who Wants Life Insurance
September is National Life Insurance Awareness Month, so there's no better time to explore insurance options or review your current coverage.
Traditionally, Gen Z and Millennials, particularly those starting out or with young families, want life insurance. According to the 2025 Insurance Barometer Study by LIMRA and Life Happens, the percentage of Americans with a self-reported life insurance need-gap—those who know they should have life insurance or more insurance than they do—rose sharply in 2020 amid the COVID-19 pandemic. It has remained elevated since, though the 2025 percentages (10% for respondents with insurance and 30% for those without) indicate that awareness of the need may be slowly returning to prepandemic levels.
What's Holding You Back?
What's keeping people who acknowledge a need from getting coverage? Perceived cost is cited in the study as the top barrier to purchasing life insurance. Yet year after year, the Barometer studies have found that respondents greatly overestimate the cost of life insurance. Despite reframing and personalizing the cost-oflife- insurance question in the 2025 Barometer survey, 49% said their estimate of the cost of coverage for themselves was based on "gut feeling" or a "wild guess."More than a quarter of the two younger generations (Gen Z and Millennials) cite "lack of knowledge about life insurance products" as a reason they don't own it. The younger generations aren't the only ones who may lack knowledge. As the graph shows, people of all ages are unfamiliar with the myriad ways life insurance can enhance financial security for owners and beneficiaries.
If you feel you may have a need gap in your life insurance or have been procrastinating on updating your coverage, talk with your trusted financial advisor about your unique situation.
Source: 2025 Insurance Barometer Study, LIMRA and Life Happens
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David P. McCabe, Nathaniel D. High, and Nicholas J. Over are Financial Planners with, and offer securities and investment advisory service through LPL Enterprise (LPLE), a Registered Investment Advisor, Member FINRA/SIPC, and an affiliate of LPL Financial.
LPLE and LPL Financial are not affiliated with Centuria Financial Group.
This newsletter is general educational information provided by a Prudential Financial Professional and is not intended to market or sell any specific products and services, but rather provide general information about the subject matter covered only.
Centuria Financial Group and LTM Marketing Solutions, LLC are unrelated companies. This publication was prepared for the publication’s provider by LTM Marketing Solutions, LLC, an unrelated third party. Articles are not written or produced by the named representative.
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