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Hawaii has the most sun and also remains the state with the longest life span. The national average is 79 and in Hawaii it is 81.3 years.  You get an extra 2.3 years of life in Hawaii.

 

Mississippi has the distinction of being the state with the shortest life expectancy at 75 years. Four years below the country average. Mississippi has "life spans and earnings of the typical American in the late 1980's" according to the Social Science Research Council.

Steven Weisbart, Senior Vice President and Chief Economist at Insurance Institute, said an increase in life expectancy is nothing new for the life insurance industry.

 

"Nationally this is not a new idea, within the states there have always been differences," Weisbart said. "All this data does is provide an update to previous data that also showed significant differences in life expectancy."

 

Life insurance premiums have been steadily going down over the last three to four decades says Weisbart. They have continued to decrease because of factors like better medical health that elongates life span.

The LIMRA noticed that life insurance being too expensive in the main reason for not having life insurance. 66% mentioned it as a reason and 34% said it is the main reason they do have a life insurance policy.

Three in ten US households do not have life insurance. 58 million households think that they need more.

 

This coverage is needed but it is sadly being ignored. However, the effect life expectancy has on premiums leaves an open window.

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