Policyholder Questions Answered by the Institute of Life Insurance
The Institute explains that by end of 1963 the average American family held about 22 months of life insurance, equating to roughly two months of income, with $12 200 in force per family and insureds averaging $15 300. It notes 1 550 life insurers in the U S as of June 30 1964, including 1393 stock companies and 157 mutuals, with every state hosting at least two firms.