As the financial services industry calculates opportunities in the middle market a new LIMRA report finds middle market households own the majority of individual permanent life insurance inforce.
Combining various LIMRA and non-LIMRA sources, this report examines developments in selling/ purchasing life insurance policies through direct-response channels. It looks at this distribution method through the eyes of both insurance carriers and consumers, including a summary of the past, an analysis of the present, and a look toward the future.
With nearly three fourths of all middle-market households in the workforce and actively saving for retirement, a real growth opportunity exists for financial firms and advisors, according to the LIMRA Secure Retirement Institute.
A new LIMRA study among African Americans finds that more middle market African Americans place saving for an emergency fund as a top financial priority than the middle market as a whole (74 percent vs. 62 percent).
Middle-market consumers want to provide for their families if a wage earner becomes disabled, dies prematurely or if a family member becomes ill, while also saving for his/her own retirement and for the children’s educations. Unfortunately, many have yet to achieve these goals because they have other financial priorities. Find out what stops them from obtaining their financial security goals and the trade-offs they make when they can’t afford to fund them all.
A new LIMRA study found that 57 percent of middle market American households are not saving regularly — this jumps to 69 percent for households with children under 18.
Back in the 1700's English theologian Isaac Watts said "Learning to trust is one of life's most difficult tasks."
In a recent LIMRA study, 50 percent of middle market consumers said they prefer to buy life insurance face-to-face with a financial professional, while 75 percent said they want an advisor who can educate, listen and develop trust.
Ownership volume is growing. The number of American households owning individual life insurance grew by 3 million since 2010.