Now in its seventh year, the 2017 Insurance Barometer Study is “the” industry study that tracks the financial perceptions, attitudes and behaviors of consumers, with an emphasis on life insurance. Life Happens and LIMRA jointly conduct the study each year.
This year’s study found that …
- The most common financial concern is the ability to afford a comfortable retirement … and more people are using life insurance as a way to save for retirement.
- People see the need for life insurance, particularly for parents with young children … but consumer demand for life insurance is greater than actual ownership.
- Consumers want it simple. Simplified underwriting may increase a person’s likelihood of completing the life insurance purchase, and they are drawn to the speed and ease that it offers.
The study delves into …
- Major factors that keep people from buying life insurance—or more of it
- Common misconceptions about life insurance and ability to qualify for coverage
- Factors consumers consider “very or extremely” important when buying life insurance
- What consumers are looking for in companies and agents
PLUS, new this year is a section on consumers’ views on simplified underwriting and peer-to-peer insurance models.
The 2017 Insurance Barometer Study is valued at $129, but this 40-page study is yours free if you are a member of Life Happens Pro Premium or Plus OR one of our supporting member companies. Click here to sign up or sign in and download your report today.
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