According to the article, they are already buying it in greater %s vs. other ethnicities. So there is something missing.... perhaps they are underinsured compared to other people who buy life insurance? That would be my guess from experience.
In my experience, Im twice as likely to sell a life policy to a black person, but its more likely to be a small WL policy. White people prefer a large Term policy. (generalizing there of course, based on 10+ years in the life biz)
Of course few of those Term policies ever pay out. So life insurance is not the reason for the wealth gap. But it certainly could help to bridge it, as DHK suggested.
That is what I've noticed as well.. mostly sell small FE policies
I also replace quite a few YRT from Primerica..and most of those policy holders didnt understand how the YRT works