Recent LIMRA research on mass affluent consumers found more than 75 percent agree that most people should own life insurance, yet nearly 4 million of the 13 million total mass affluent households do not have adequate coverage.
LIMRA research shows there are about 19 million “stuck shoppers” - potential life insurance buyers who start the process but never finish. To help combat this issue, many companies are implementing simplified underwriting processes to lower costs and improve customers’ buying experience.
As the days get crisper and shorter, children head back to the classroom and Life Insurance Awareness Month gets under way, it’s a good idea to take a fresh look at all the different ways life insurance can help families.
According to LIMRA research, more than one in three U.S. families would have financial difficulty within one month of a primary wage earner dying. More than half say they would be in financial jeopardy within a year. Having enough life insurance coverage could protect families from this risk.
New LIMRA/Maddock Douglas Research Offers Ways for Industry to Communicate More Effectively and Reach More Consumers.