American consumer’s perspectives on life insurance

Life insurance plays a key role in financial planning for many Americans, but perspectives vary across demographics. Data from YouGov CategoryView reveals differences in how consumers perceive the importance of life insurance, its investment potential, and the flexibility they seek in policies. Additionally, YouGov BrandIndex provides insights into how major insurers perform across the purchase funnel, from brand awareness to purchase intent. Together, these findings offer a comprehensive view of consumer attitudes and brand performance in the life insurance market.

The importance of life insurance

According to YouGov CategoryView, 41% of US adults consider life insurance an important part of their financial strategy. Younger consumers, particularly those aged 18-29 (45%) and 30-44 (45%), are more likely to view life insurance as essential compared to older groups (39% among 45-64 and 36% among 65+). Gender and income also influence perceptions – women (43%) are slightly more likely than men (39%) to prioritize life insurance, while middle-income (46%) and higher-income (48%) individuals show greater agreement than lower-income respondents (38%).

Beyond financial security, half of consumers also view life insurance as a good investment. This sentiment is strongest among younger age groups, with 60% of 18-29-year-olds and 56% of 30-44-year-olds agreeing. Women (54%) are more likely than men (48%) to share this view.

The demand for policy flexibility

As digital tools reshape consumer expectations, flexibility has become a key factor in life insurance preferences. More than half (52%) of U.S. adults prefer policies that can be adjusted online to match changes in their lives. This preference is especially pronounced among younger consumers, with 59% of 18-29-year-olds and 60% of 30-44-year-olds favoring online policy management. By contrast, only 38% of those 65 and older express the same preference. Higher-income consumers (60%) also show greater interest in digital flexibility compared to lower-income individuals (49%).

Hybrid life insurance products, which combine traditional coverage with investment components, attract a smaller but notable share of consumers. Overall, 28% express interest, but younger consumers are the most receptive – 42% of 18-29-year-olds and 40% of 30-44-year-olds show interest, while enthusiasm declines among older age groups (22% for ages 45-64 and just 11% for 65+). Higher-income individuals (36%) are also more inclined to consider hybrid policies than lower-income consumers (25%).

Consumer satisfaction with life insurance providers

YouGov CategoryView data highlights satisfaction levels among major insurers. New York Life leads with a 74% satisfaction rate, followed by Prudential and State Farm at 69%, and MetLife at 60%.

However, cost remains a key concern for many policyholders. High premiums are the most cited complaint, affecting 19% of MetLife customers, 12% of New York Life customers, 20% of Prudential customers, and 17% of State Farm customers. Other notable issues include a lack of additional benefits (10% for MetLife and New York Life, 8% for Prudential and State Farm) and difficulties managing policies online (10% for MetLife, 9% for New York Life, and 8% for State Farm). While transparency, customer service, and policy flexibility are also mentioned as concerns, they rank lower in priority.

Brand performance across the purchase funnel

Using YouGov BrandIndex data, we can examine how major life insurance providers perform across the purchase funnel, from brand awareness to purchase intent.

• MetLife: With a 74.1% Awareness score, MetLife enjoys strong brand recognition. Among those aware, 8.1% consider purchasing from the company, leading to a conversion rate of 11%. At the final stage, 1.3% of consumers express Purchase Intent, meaning 16% of those who consider MetLife indicate an intent to buy.
• New York Life: The company holds a 63% Awareness score. Of those aware, 7.7% would consider purchasing, leading to a 12% conversion rate. At the Purchase Intent stage, 2% of consumers express intent, equating to 26% of considerers.
• Prudential: Prudential has a 70.9% Awareness score. However, only 7.2% of those aware would consider purchasing, leading to a 10% conversion rate. Its Purchase Intent score is 0.9%, with 13% of considerers indicating intent to buy.
• State Farm: As the most recognized insurer in this analysis, State Farm holds an 86.8% Awareness score. It also leads in Consideration (21.8%) and achieves a high conversion rate of 25% from Awareness to Consideration. At the final stage, 9.4% express Purchase Intent, meaning 43% of considerers indicate they are likely to buy from State Farm.

Consumer attitudes toward life insurance vary based on age, income, and preferences for digital flexibility. While younger consumers are more likely to see life insurance as both essential and a good investment, policyholders across demographics emphasize the need for affordability and ease of management. Satisfaction levels among major insurers vary, with cost and digital accessibility being key concerns. Meanwhile, brand awareness and consideration differ across providers, with State Farm leading in consumer recognition and purchase intent.  

Methodology: YouGov Financial Services CategoryView collects data on brands & consumers across the US every month. The data is based on the interviews of more than 42000 American adults aged 18+ between March 2024 and February 2025. Learn more about YouGov Financial Services CategoryView.