Credit: Image by Denise Husted from Pixabay.Why are fewer people buying life insurance? Insurance expert Dr. Puneet Prakash weighs in. May 2, 2023 by Strategic CommunicationAfter peaking in 1971, the percentage of families covered by life insurance has dropped steadily, from a high of 85.4% to 59.4% in 2019. Financial experts say life insurance is still a “huge need.” So why don’t more people buy it? Dr. Puneet Prakash, professor in the finance and risk management department at Missouri State University, offers a few reasons why to Policygenius.