Who in the World Buys the Most Insurance?

World Population Map 2013 (Wikipedia)
World Population Map 2013 (Wikipedia)

If you live in the United States long enough, you begin to feel like insurance is an absolute necessity. We are pummeled with so much insurance advertising, laden with promises to protect us from disasters and harmful loss, that we begin to feel compelled to buy… as if someone who remains uninsured is purely irresponsible and simply unAmerican!

Not Everyone is Insurance Obsessed

But what about other countries? Surely the entire world is not purchasing numerous, expensive insurance policies. I was curious, so I dug up some statistics for your enlightenment. Noticeably, Americans buy eight times more insurance than average. Japanese buy about 10 times more. Chinese buy only 1/3 of the average. If you would like to see more statistics, visit the National Association of Insurance Commissioners and Wikipedia’s World Population page.

World Insurance Data 2013/14  (from NAIC and Wikipedia)
World Insurance Data
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