Even though Americans are thinking about life risks more than people in other countries, few of them are doing anything about it. A report by AXA Equitable, which surveyed people in 11 countries, found that even though 63 percent of Americans believe life insurance brings peace of mind and protection, 34 percent of them have not purchased coverage themselves, and 18 percent have no coverage.

The most common reason for this is employer-provided coverage. The average employee-sponsored group coverage of all American households is $153,900, while average Americans, age 25 to 65, have an insurance gap of $180,000. Families with financially dependent children have an average gap of $371,000.

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