SAN FRANCISCO (KCBS) _ A new survey has found that millions of Americans are having a difficult time doing what they can to protect their family, as more than 35 million households are without life insurance.

Robert Kerzner, president of the insurance industry-funded research firm LIMRA said that’s nearly a third of all households. And the survey found that individual life insurance is at a 50-year low.

“About 40 percent of Americans say the major reason they’ve not bought is because they have other financial priorities,” said Kerzner.

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He said some of those priorities include paying off debt or saving for retirement. But, do many of these families understand the risks of not carrying life insurance?

“Four out of 10 tell us in our research that they would immediately have trouble meeting everyday living expenses,” Kerzner said.

He said another three in 10 say they’d have trouble after several months.

Some consumer advocates have argued that the insurance industry is at least partially to blame for the trend because of coverage costs. But Kerzner said people believe life insurance is far more expensive than it is.

In fact, term insurance is actually cheaper today than it was 20 years ago.