A new study published by the Life Insurance Marketing and Research Association (LIMRA) found that 57 percent of middle market households in the United States are not saving regularly. This number increases to 69 percent in households where there are children under the age of 18.

Half of the households surveyed said they would need to borrow to cover a $5000 emergency, and one third have non-mortgage debt of $25,000 or more. However, LIMRA found that three quarters of middle market households seem to understand that they need to learn more about savings options and strategies.

LIMRA suggests that these findings represent an opportunity for advisors looking to connect with the middle market. "Prior research has shown that consumers who say they need life insurance but don't buy often say they can't afford it,” concludes the report.  “Offering these consumers savings strategies could help them get to a place where they will feel comfortable enough buying the life insurance they say they need.”