Life insurance coverage is at its lowest point in more than five decades, according to the 2011 Genworth LifeJacket Study. Almost half of Americans with incomes between $50,000 and $250,000 don’t have life insurance. Those who do have it may not have enough. They have an average amount to cover 3.6 years of income which means they’re leaving their families significantly under-insured.

The goal of this new study is to help close the insurance coverage gap. Many people want to do the right thing when it comes to life insurance, but some struggle with who to trust or where to get solid information. Around 40% of consumers don’t think they have enough life insurance to meet their family’s long-term needs. “While the industry has done an excellent job of offering products that meet the consumer needs, we now have the deep insight needed to bridge the coverage gap and bring consumers to the table – creating a more effective way of doing business,” said Anthony Vossenberg, senior vice president, Life and Annuities at Genworth in a news release. “This study provides advisors and agents with insights needed to educate consumers about their insurance needs and motivate them to secure their financial futures.”

Many times when a couple gets married or has a child they’ll take the time to evaluate their insurance coverage. But this study shows that the time between that major life event and the actual purchase of the insurance can vary drastically. Experts hope to reduce the time frame between those big life changes and matching up the insurance coverage to the new needs.