Individual and Family Insurance Deep Dive
Most Americans are deeply engaged with the financial system on a daily basis. According to national banking data, nearly 96% of U.S. households are considered “banked,” meaning at least one household member maintains a checking or savings account at a bank or credit union. Only a small minority—roughly 6% of U.S. adults—remain unbanked.
While there is no single authoritative study that measures how many times per day individuals interact with the economy, Federal Reserve research confirms that Americans routinely engage in financial activity through payments, deposits, transfers, credit usage, investing, and insurance decisions across multiple platforms and providers.
Despite this constant engagement, long-term financial security is typically built on a small number of foundational protection decisions—decisions that determine whether a family’s financial structure holds or fractures during major life events.
The four pillars of personal financial protection
For most individuals and families, financial resilience rests on four core components:
- Life Insurance
- Protects income, dependents, estate liquidity, and business continuity.
- Disability Income Insurance
- Addresses the most overlooked financial risk: loss of earning power during working years.
- Long-Term Care Planning
- Helps prevent extended care needs from eroding retirement assets and family wealth.
- Annuities (when used appropriately)
- Provide income guarantees, longevity protection, and stability against market volatility.
Research from the Insurance Information Institute and the Society of Actuaries consistently shows that income interruption, longevity risk, and long-term care expenses represent some of the most financially damaging—and least prepared for—risks facing American households.
How planning ties it all together
These protection tools are most effective when coordinated with comprehensive financial planning. When integrated with planning services offered through our sister organization, Cuellar Capital Advisory, they form the structural backbone of a long-term, multi-generational financial security framework.
Done correctly, this approach:
- Preserves capital during unexpected life events
- Protects families across generations
- Prevents forced liquidation of assets
- Creates stability that allows long-term growth to compound
We view this structure as a multi-generational financial security net—designed not just for ideal conditions, but for real life.
Sources & References (Linked)
- FDIC – National Survey of Unbanked and Underbanked Households (2023):
- https://www.fdic.gov/news/press-releases/2024/fdic-survey-finds-96-percent-us-households-were-banked-2023
- Federal Reserve – Report on the Economic Well-Being of U.S. Households:
- https://www.federalreserve.gov/publications/economic-well-being-of-us-households.htm
- Federal Reserve – Diary of Consumer Payment Choice:
- https://www.frbservices.org/financial-services/payments/diary-consumer-payment-choice.html
- Insurance Information Institute – Life, Disability & Long-Term Care Risk Data:
- https://www.iii.org
- Society of Actuaries – Longevity & Income Risk Research:
- https://www.soa.org/resources/research-reports/
Sources & References (Linked)
- FDIC – National Survey of Unbanked and Underbanked Households (2023):
- https://www.fdic.gov/news/press-releases/2024/fdic-survey-finds-96-percent-us-households-were-banked-2023
- Federal Reserve – Report on the Economic Well-Being of U.S. Households:
- https://www.federalreserve.gov/publications/economic-well-being-of-us-households.htm
- Federal Reserve – Diary of Consumer Payment Choice:
- https://www.frbservices.org/financial-services/payments/diary-consumer-payment-choice.html
- Insurance Information Institute – Life, Disability & Long-Term Care Risk Data:
- https://www.iii.org
- Society of Actuaries – Longevity & Income Risk Research:
- https://www.soa.org/resources/research-reports/