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States spending the most on life insurance policies

  • States spending the most on life insurance policies
    1/ Jeremy Bishop // Unsplash

    States spending the most on life insurance policies

    The mortality rate in the United States is dropping—Americans nowadays live about five years longer than they were in 1980—but that doesn't mean dying is any less expensive. Life insurance remains a popular way to ensure death doesn't mean bankruptcy for surviving relatives. Almost six in 10 Americans own life insurance; meaning 40% of the population leaves the future financial security of surviving family members to chance.

    In the United States, the leading cause of death is heart disease, followed by cancer, neurological diseases, diabetes, and chronic respiratory diseases. Murder and suicides rank seventh on the list. This means lifestyle, diet, and access to health care are leading contributing factors to the mortality rate in the United States.

    For families burdened with the death of a loved one, life insurance may make the difference between financial recovery and ruin. Americans spent more than $3 trillion on life insurance in 2017 alone. Stacker looked at insurance data from the American Council of Life Insurance and state population counts from the U.S. Census to determine which states pay the most per capita for life insurance. Our list is sorted by the face value of the policy, or the stated dollar value of the death benefit, per capita, and by total value for all policies purchased in a state. The data comes from 2007 through 2017.

    Face value is largely determined by insurance premiums, with higher premiums leading to higher face values. The actuarial risk of the insured which takes into consideration the health and age of the insured, the likelihood of disease or injury in the area the insured lives, and risk factors the insured currently or previously demonstrated can all determine premiums. While this can be a highly speculative and opaque process, Stacker has attempted to justify the difference in face values by also looking at mortality rates and average life expectancy.

    Keep reading to learn where your state comes in on the list.

    You may also like: Most and least insured states in America

  • #51. New Mexico
    2/ Maddy Baker // Unsplash

    #51. New Mexico

    - Face amount purchased per capita: $4,632 (51% below U.S. average)
    - Face amount purchased: $9.7 billion ($5.7 billion individual, $3.5 billion group, $0.4 billion credit)
    - Life expectancy: 75.4 per 100,000 (4.4% below U.S. average)
    - Mortality rate: 917.7 per 100,000 (25.4% above U.S. average)

  • #50. West Virginia
    3/ anthony heflin // Shutterstock

    #50. West Virginia

    - Face amount purchased per capita: $4,787 (49.4% below U.S. average)
    - Face amount purchased: $8.8 billion ($4.1 billion individual, $4.4 billion group, $0.3 billion credit)
    - Life expectancy: 78.3 per 100,000 (0.8% below U.S. average)
    - Mortality rate: 708.8 per 100,000 (3.2% below U.S. average)

  • #49. Maine
    4/ Mercedes Mehling // Unsplash

    #49. Maine

    - Face amount purchased per capita: $5,238 (44.6% below U.S. average)
    - Face amount purchased: $7 billion ($3.7billion individual, $2.8 billion group, $0.5 billion credit)
    - Life expectancy: 79.6 per 100,000 (0.9% above U.S. average)
    - Mortality rate: 678.5 per 100,000 (7.3% below U.S. average)

  • #48. Arkansas
    5/ Matt Wunder // Shutterstock

    #48. Arkansas

    - Face amount purchased per capita: $6,155 (34.9% below U.S. average)
    - Face amount purchased: $18.3 billion ($11.7 billion individual, $6.4 billion group, $0.2 billion credit)
    - Life expectancy: 76 per 100,000 (3.7% below U.S. average)
    - Mortality rate: 900.1 per 100,000 (23% above U.S. average)

  • #47. Kentucky
    6/ anthony heflin // Shutterstock

    #47. Kentucky

    - Face amount purchased per capita: $6,765 (28.5% below U.S. average)
    - Face amount purchased: $29.9 billion ($15.7 billion individual, $13 billion group, $1.3 billion credit)
    - Life expectancy: 80.8 per 100,000 (2.4% above U.S. average)
    - Mortality rate: 618.7 per 100,000 (15.5% below U.S. average)

  • #46. Arizona
    7/ Florian Schneider // Unsplash

    #46. Arizona

    - Face amount purchased per capita: $6,895 (27.1% below U.S. average)
    - Face amount purchased: $47 billion ($28.7 billion individual, $18 billion group, $0.3 billion credit)
    - Life expectancy: 80 per 100,000 (1.4% above U.S. average)
    - Mortality rate: 663.4 per 100,000 (9.4% below U.S. average)

  • #45. Oregon
    8/ GoodFreePhotos

    #45. Oregon

    - Face amount purchased per capita: $6,902 (27% below U.S. average)
    - Face amount purchased: $27.8 billion ($15.2 billion individual, $12.4 billion group, $0.3 billion credit)
    - Life expectancy: 80.8 per 100,000 (2.4% above U.S. average)
    - Mortality rate: 651.2 per 100,000 (11% below U.S. average)

  • #44. Montana
    9/ Bureau of Land Management // Flickr

    #44. Montana

    - Face amount purchased per capita: $7,098 (25% below U.S. average)
    - Face amount purchased: $7.3 billion ($4.5 billion individual, $2.7 billion group, $0.1 billion credit)
    - Life expectancy: 78.4 per 100,000 (0.6% below U.S. average)
    - Mortality rate: 749.6 per 100,000 (2.4% above U.S. average)

  • #43. Hawaii
    10/ Jelle de Gier // Unsplash

    #43. Hawaii

    - Face amount purchased per capita: $7,106 (24.9% below U.S. average)
    - Face amount purchased: $10.1 billion ($7.2 billion individual, $2.7 billion group, $0.2 billion credit)
    - Life expectancy: 76.5 per 100,000 (3% below U.S. average)
    - Mortality rate: 725.4 per 100,000 (0.9% below U.S. average)

  • #42. Indiana
    11/ f11photo // Shutterstock

    #42. Indiana

    - Face amount purchased per capita: $7,355 (22.2% below U.S. average)
    - Face amount purchased: $48.7 billion ($26.6 billion individual, $21.1 billion group, $0.9 billion credit)
    - Life expectancy: 79.4 per 100,000 (0.6% above U.S. average)
    - Mortality rate: 672.1 per 100,000 (8.2% below U.S. average)

  • #41. Idaho
    12/ ARLittleRock // Wikimedia Commons

    #41. Idaho

    - Face amount purchased per capita: $7,365 (22.1% below U.S. average)
    - Face amount purchased: $12.2 billion ($7.6 billion individual, $4.4 billion group, $0.2 billion credit)
    - Life expectancy: 77.2 per 100,000 (2.2% below U.S. average)
    - Mortality rate: 793.7 per 100,000 (8.4% above U.S. average)

  • #40. Mississippi
    13/ Peek Creative Collective // Shutterstock

    #40. Mississippi

    - Face amount purchased per capita: $7,365 (22.1% below U.S. average)
    - Face amount purchased: $22 billion ($14.6 billion individual, $6.2 billion group, $1.2 billion credit)
    - Life expectancy: 81.3 per 100,000 (3% above U.S. average)
    - Mortality rate: 584.9 per 100,000 (20.1% below U.S. average)

  • #39. Alabama
    14/ David Mark // Pixabay

    #39. Alabama

    - Face amount purchased per capita: $7,477 (21% below U.S. average)
    - Face amount purchased: $36.3 billion ($23.3 billion individual, $11.7 billion group, $1.3 billion credit)
    - Life expectancy: 79.5 per 100,000 (0.8% above U.S. average)
    - Mortality rate: 741.8 per 100,000 (1.4% above U.S. average)

  • #38. Florida
    15/ Lance Asper // Unsplash

    #38. Florida

    - Face amount purchased per capita: $7,728 (18.3% below U.S. average)
    - Face amount purchased: $156.7 billion ($103.1 billion individual, $50.6 billion group, $3 billion credit)
    - Life expectancy: 79 per 100,000 (0.1% above U.S. average)
    - Mortality rate: 724.2 per 100,000 (1.1% below U.S. average)

  • #37. Ohio
    16/ David Mark // Pixabay

    #37. Ohio

    - Face amount purchased per capita: $7,760 (18% below U.S. average)
    - Face amount purchased: $90.1 billion ($45.7 billion individual, $43.1 billion group, $1.4 billion credit)
    - Life expectancy: 77.6 per 100,000 (1.6% below U.S. average)
    - Mortality rate: 848.6 per 100,000 (15.9% above U.S. average)

  • #36. Rhode Island
    17/ GoodFreePhotos

    #36. Rhode Island

    - Face amount purchased per capita: $7,811 (17.4% below U.S. average)
    - Face amount purchased: $8.3 billion ($4.1 billion individual, $4.1 billion group, $0 billion credit)
    - Life expectancy: 79.7 per 100,000 (1% above U.S. average)
    - Mortality rate: 737.0 per 100,000 (0.7% above U.S. average)

  • #35. South Carolina
    18/ 1778011 // Pixabay

    #35. South Carolina

    - Face amount purchased per capita: $7,818 (17.4% below U.S. average)
    - Face amount purchased: $38.3 billion ($22.9 billion individual, $12.8 billion group, $2.6 billion credit)
    - Life expectancy: 78.7 per 100,000 (0.3% below U.S. average)
    - Mortality rate: 771.2 per 100,000 (5.4% above U.S. average)

  • #34. Michigan
    19/ Suzanne Tucker // Shutterstock

    #34. Michigan

    - Face amount purchased per capita: $7,910 (16.4% below U.S. average)
    - Face amount purchased: $78.5 billion ($39.3 billion individual, $37.8 billion group, $1.4 billion credit)
    - Life expectancy: 76 per 100,000 (3.7% below U.S. average)
    - Mortality rate: 929.9 per 100,000 (27.1% above U.S. average)

  • #33. Kansas
    20/ CJMcCay // Pixabay

    #33. Kansas

    - Face amount purchased per capita: $8,121 (14.2% below U.S. average)
    - Face amount purchased: $23.6 billion ($14.9 billion individual, $8.2 billion group, $0.4 billion credit)
    - Life expectancy: 75.7 per 100,000 (4.1% below U.S. average)
    - Mortality rate: 881.1 per 100,000 (20.4% above U.S. average)

  • #32. Pennsylvania
    21/ David Mark // Pixabay

    #32. Pennsylvania

    - Face amount purchased per capita: $8,137 (14% below U.S. average)
    - Face amount purchased: $104.1 billion ($58 billion individual, $44.7 billion group, $1.3 billion credit)
    - Life expectancy: 79.2 per 100,000 (0.4% above U.S. average)
    - Mortality rate: 771.6 per 100,000 (5.4% above U.S. average)

  • #31. Nevada
    22/ Kuldar Kalvik // Unsplash

    #31. Nevada

    - Face amount purchased per capita: $8,160 (13.7% below U.S. average)
    - Face amount purchased: $23.6 billion ($14 billion individual, $9.5 billion group, $0.1 billion credit)
    - Life expectancy: 78.8 per 100,000 (0.1% below U.S. average)
    - Mortality rate: 718.1 per 100,000 (1.9% below U.S. average)

  • #30. Oklahoma
    23/ 4kclips // Shutterstock

    #30. Oklahoma

    - Face amount purchased per capita: $8,170 (13.6% below U.S. average)
    - Face amount purchased: $31.8 billion ($15.6 billion individual, $15.6 billion group, $0.7 billion credit)
    - Life expectancy: 80.5 per 100,000 (2% above U.S. average)
    - Mortality rate: 677.1 per 100,000 (7.5% below U.S. average)

  • #29. New Hampshire
    24/ Balazs Busznyak // Unsplash

    #29. New Hampshire

    - Face amount purchased per capita: $8,186 (13.5% below U.S. average)
    - Face amount purchased: $10.9 billion ($5.7 billion individual, $4.8 billion group, $0.4 billion credit)
    - Life expectancy: 78.2 per 100,000 (0.9% below U.S. average)
    - Mortality rate: 783.5 per 100,000 (7.1% above U.S. average)

  • #28. Wisconsin
    25/ Suzanne Tucker // Shutterstock

    #28. Wisconsin

    - Face amount purchased per capita: $8,614 (8.9% below U.S. average)
    - Face amount purchased: $49.6 billion ($28.2 billion individual, $20.7 billion group, $0.8 billion credit)
    - Life expectancy: 81.1 per 100,000 (2.8% above U.S. average)
    - Mortality rate: 656.4 per 100,000 (10.3% below U.S. average)

  • #27. Wyoming
    26/ Lynn Yeh // Shutterstock

    #27. Wyoming

    - Face amount purchased per capita: $8,745 (7.6% below U.S. average)
    - Face amount purchased: $5.1 billion ($3 billion individual, $2 billion group, $0.1 billion credit)
    - Life expectancy: 75 per 100,000 (4.9% below U.S. average)
    - Mortality rate: 951.3 per 100,000 (30% above U.S. average)

  • #26. Virginia
    27/ JoMo333 // Shutterstock

    #26. Virginia

    - Face amount purchased per capita: $8,827 (6.7% below U.S. average)
    - Face amount purchased: $73.8 billion ($36.4 billion individual, $36.6 billion group, $0.9 billion credit)
    - Life expectancy: 77.5 per 100,000 (1.8% below U.S. average)
    - Mortality rate: 820.1 per 100,000 (12.1% above U.S. average)

  • #25. North Carolina
    28/ Daniel Weiss // Unsplash

    #25. North Carolina

    - Face amount purchased per capita: $8,927 (5.6% below U.S. average)
    - Face amount purchased: $89.7 billion ($46.3 billion individual, $40.7 billion group, $2.7 billion credit)
    - Life expectancy: 78.5 per 100,000 (0.5% below U.S. average)
    - Mortality rate: 757.5 per 100,000 (3.5% above U.S. average)

  • #24. Alaska
    29/ Hari Nandakumar // Unsplash

    #24. Alaska

    - Face amount purchased per capita: $8,932 (5.6% below U.S. average)
    - Face amount purchased: $6.6 billion ($3.7 billion individual, $2.9 billion group, $0 billion credit)
    - Life expectancy: 79.8 per 100,000 (1.1% above U.S. average)
    - Mortality rate: 726 per 100,000 (0.8% below U.S. average)

  • #23. Maryland
    30/ Bruce Emmerling // Pixabay

    #23. Maryland

    - Face amount purchased per capita: $9,341 (1.3% below U.S. average)
    - Face amount purchased: $56 billion ($33.1 billion individual, $22.4 billion group, $0.5 billion credit)
    - Life expectancy: 78.1 per 100,000 (1% below U.S. average)
    - Mortality rate: 765.5 per 100,000 (4.6% above U.S. average)

  • #22. Texas
    31/ Ryan Conine // Shutterstock

    #22. Texas

    - Face amount purchased per capita: $9,401 (0.6% below U.S. average)
    - Face amount purchased: $257.8 billion ($140.2 billion individual, $109.9 billion group, $7.7 billion credit)
    - Life expectancy: 80.3 per 100,000 (1.8% above U.S. average)
    - Mortality rate: 717.2 per 100,000 (2% below U.S. average)

  • #21. Illinois
    32/ Pedro Lastra // Unsplash

    #21. Illinois

    - Face amount purchased per capita: $9,447 (0.1% below U.S. average)
    - Face amount purchased: $121.4 billion ($72.7 billion individual, $47.5 billion group, $1.3 billion credit)
    - Life expectancy: 80.3 per 100,000 (1.8% above U.S. average)
    - Mortality rate: 667.5 per 100,000 (8.8% below U.S. average)

  • #20. Georgia
    33/ David Mark // Pixabay

    #20. Georgia

    - Face amount purchased per capita: $9,496 (0.4% above U.S. average)
    - Face amount purchased: $96.9 billion ($56.3 billion individual, $37.3 billion group, $3.3 billion credit)
    - Life expectancy: 78.4 per 100,000 (0.6% below U.S. average)
    - Mortality rate: 754.7 per 100,000 (3.1% above U.S. average)

  • #19. Iowa
    34/ Drew Dau // Unsplash

    #19. Iowa

    - Face amount purchased per capita: $9,645 (2% above U.S. average)
    - Face amount purchased: $30.1 billion ($17.2 billion individual, $12.4 billion group, $0.5 billion credit)
    - Life expectancy: 80.5 per 100,000 (2% above U.S. average)
    - Mortality rate: 623.6 per 100,000 (14.8% below U.S. average)

  • #18. Tennessee
    35/ Sean Pavone // Shutterstock

    #18. Tennessee

    - Face amount purchased per capita: $9,663 (2.1% above U.S. average)
    - Face amount purchased: $63.7 billion ($34.5 billion individual, $27.5 billion group, $1.8 billion credit)
    - Life expectancy: 77.8 per 100,000 (1.4% below U.S. average)
    - Mortality rate: 785.6 per 100,000 (7.3% above U.S. average)

  • #17. Nebraska
    36/ ScottPeck // Pixabay

    #17. Nebraska

    - Face amount purchased per capita: $10,076 (6.5% above U.S. average)
    - Face amount purchased: $19.1 billion ($12.8 billion individual, $6.2 billion group, $0.1 billion credit)
    - Life expectancy: 79.5 per 100,000 (0.8% above U.S. average)
    - Mortality rate: 692.7 per 100,000 (5.4% below U.S. average)

  • #16. Louisiana
    37/ Kevin Ruck // Shutterstock

    #16. Louisiana

    - Face amount purchased per capita: $10,148 (7.3% above U.S. average)
    - Face amount purchased: $47.3 billion ($27 billion individual, $18.5 billion group, $1.8 billion credit)
    - Life expectancy: 77.8 per 100,000 (1.4% below U.S. average)
    - Mortality rate: 849.7 per 100,000 (16.1% above U.S. average)

  • #15. Massachusetts
    38/ Mark Boss // Unsplash

    #15. Massachusetts

    - Face amount purchased per capita: $10,183 (7.7% above U.S. average)
    - Face amount purchased: $69.1 billion ($40 billion individual, $28.9 billion group, $0.1 billion credit)
    - Life expectancy: 75.9 per 100,000 (3.8% below U.S. average)
    - Mortality rate: 902.4 per 100,000 (23.3% above U.S. average)

  • #14. North Dakota
    39/ ZakZeinert // Shutterstock

    #14. North Dakota

    - Face amount purchased per capita: $10,257 (8.4% above U.S. average)
    - Face amount purchased: $7.6 billion ($5.2 billion individual, $2.2 billion group, $0.2 billion credit)
    - Life expectancy: 79.5 per 100,000 (0.8% above U.S. average)
    - Mortality rate: 717.2 per 100,000 (2% below U.S. average)

  • #13. Missouri
    40/ Jake Heckey // Pixabay

    #13. Missouri

    - Face amount purchased per capita: $10,359 (9.5% above U.S. average)
    - Face amount purchased: $62.9 billion ($28.9 billion individual, $33.4 billion group, $0.7 billion credit)
    - Life expectancy: 78.5 per 100,000 (0.5% below U.S. average)
    - Mortality rate: 777.3 per 100,000 (6.2% above U.S. average)

  • #12. Utah
    41/ Tyson Dudley // Unsplash

    #12. Utah

    - Face amount purchased per capita: $10,447 (10.4% above U.S. average)
    - Face amount purchased: $31.3 billion ($20.5 billion individual, $10.4 billion group, $0.4 billion credit)
    - Life expectancy: 79.9 per 100,000 (1.3% above U.S. average)
    - Mortality rate: 713.4 per 100,000 (2.5% below U.S. average)

  • #11. Colorado
    42/ David Mark // Pixabay

    #11. Colorado

    - Face amount purchased per capita: $10,599 (12% above U.S. average)
    - Face amount purchased: $57.6 billion ($35.4 billion individual, $22.1 billion group, $0.2 billion credit)
    - Life expectancy: 77 per 100,000 (2.4% below U.S. average)
    - Mortality rate: 828 per 100,000 (13.1% above U.S. average)

  • #10. Minnesota
    43/ Nicole Harrington // Unsplash

    #10. Minnesota

    - Face amount purchased per capita: $11,074 (17.1% above U.S. average)
    - Face amount purchased: $60.8 billion ($33.6 billion individual, $26.8 billion group, $0.4 billion credit)
    - Life expectancy: 79.5 per 100,000 (0.8% above U.S. average)
    - Mortality rate: 736.6 per 100,000 (0.6% above U.S. average)

  • #9. New York
    44/ Terabass // Wikimedia Commons

    #9. New York

    - Face amount purchased per capita: $11,600 (22.6% above U.S. average)
    - Face amount purchased: $229.7 billion ($135.6 billion individual, $91.3 billion group, $2.7 billion credit)
    - Life expectancy: 76.3 per 100,000 (3.3% below U.S. average)
    - Mortality rate: 897.1 per 100,000 (22.6% above U.S. average)

  • #8. South Dakota
    45/ bakrawy9000 // Pixabay

    #8. South Dakota

    - Face amount purchased per capita: $11,601 (22.6% above U.S. average)
    - Face amount purchased: $9.9 billion ($6.9 billion individual, $2.9 billion group, $0.1 billion credit)
    - Life expectancy: 78.5 per 100,000 (0.5% below U.S. average)
    - Mortality rate: 735.7 per 100,000 (0.5% above U.S. average)

  • #7. California
    46/ Free-Photos // Pixabay

    #7. California

    - Face amount purchased per capita: $11,604 (22.7% above U.S. average)
    - Face amount purchased: $452.4 billion ($221.6 billion individual, $230 billion group, $0.7 billion credit)
    - Life expectancy: 80.2 per 100,000 (1.6% above U.S. average)
    - Mortality rate: 700.1 per 100,000 (4.3% below U.S. average)

  • #6. Connecticut
    47/ Sean Pavone // Shutterstock

    #6. Connecticut

    - Face amount purchased per capita: $11,718 (23.9% above U.S. average)
    - Face amount purchased: $42.1 billion ($24.6 billion individual, $17.4 billion group, $0.2 billion credit)
    - Life expectancy: 80.5 per 100,000 (2% above U.S. average)
    - Mortality rate: 714.9 per 100,000 (2.3% below U.S. average)

  • #5. New Jersey
    48/ Sean Pavone // Shutterstock

    #5. New Jersey

    - Face amount purchased per capita: $13,055 (38% above U.S. average)
    - Face amount purchased: $117 billion ($68 billion individual, $48.8 billion group, $0.2 billion credit)
    - Life expectancy: 79 per 100,000 (0.1% above U.S. average)
    - Mortality rate: 719.4 per 100,000 (1.7% below U.S. average)

  • #4. Washington
    49/ Luca Micheli // Unsplash

    #4. Washington

    - Face amount purchased per capita: $13,252 (40.1% above U.S. average)
    - Face amount purchased: $95 billion ($31.6 billion individual, $63.2 billion group, $0.2 billion credit)
    - Life expectancy: 79.9 per 100,000 (1.3% above U.S. average)
    - Mortality rate: 688.6 per 100,000 (5.9% below U.S. average)

  • #3. Delaware
    50/ Mandritoiu // Shutterstock

    #3. Delaware

    - Face amount purchased per capita: $14,621 (54.6% above U.S. average)
    - Face amount purchased: $13.8 billion ($7.2 billion individual, $6.6 billion group, $0 billion credit)
    - Life expectancy: 75.4 per 100,000 (4.4% below U.S. average)
    - Mortality rate: 957.1 per 100,000 (30.8% above U.S. average)

  • #2. District of Columbia
    51/ Matt // Unsplash

    #2. District of Columbia

    - Face amount purchased per capita: $14,801 (56.5% above U.S. average)
    - Face amount purchased: $10 billion ($5 billion individual, $4.9 billion group, $0 billion credit)
    - Life expectancy: 80 per 100,000 (1.4% above U.S. average)
    - Mortality rate: 722 per 100,000 (1.4% below U.S. average)

  • #1. Vermont
    52/ NEKVT // Shutterstock

    #1. Vermont

    - Face amount purchased per capita: $14,847 (57% above U.S. average)
    - Face amount purchased: $9.3 billion ($6.2 billion individual, $2.9 billion group, $0.1 billion credit)
    - Life expectancy: 78.3 per 100,000 (0.8% below U.S. average)
    - Mortality rate: 714.5 per 100,000 (2.4% below U.S. average)

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