04.14.21
Barometer Shows Greater Interest in Buying Life Insurance
by: Susan Rupe
One in three consumers surveyed said COVID-19 prompted them to consider buying life insurance in the next 12 months. That was one of the significant findings in the 11th annual Insurance Barometer survey, conducted by LIMRA and Life Happens. The annual survey looks at the consumer mindset around topics relevant to the life insurance industry. This year’s survey focuses on consumer behaviors and attitudes, and was revealed during Monday’s session of LIMRA’s virtual Life Insurance Conference. One of the big takeaways from this year’s barometer is that 31 percent of our respondents said they are likely to buy life insurance in the next year and were interested in buying because of the pandemic, said Stephen Wood, LIMRA senior analyst. The pandemic has impacted Americans’ financial concerns, the barometer study revealed.
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