Life Insurance Is a Key Component of Middle-Income Families’ Financial Security

27 Oct

Middle income families recognize the importance of life insurance. According to the 2021 Insurance Barometer Study, conducted by LIMRA and Life Happens, 70% of middle-income consumers (household income $50,000 to $99,999) believe they need life insurance coverage and more than a third (34%) say they plan to purchase coverage in 2021. More>>

Life Insurers Have Significant Opportunity with the Hispanic Community

6 Oct

While the Hispanic community is very diverse, comprising of heritages from across Latin America, Central and South America, and the Caribbean, they share common cultural values, especially around the importance of family. These values are reflected in their financial priorities and concerns.

In honor of Hispanic Heritage Month, LIMRA has collected 15 facts about Hispanic consumers and life insurance. More>>

September is Life Insurance Awareness Month

1 Sep

Guest contributor: Alysia Bell, insurance strategist at Crump Life Insurance Services.

If there is one thing we’ve learned through the pandemic, it’s that life is fragile and it’s important to prepare for the unexpected. Our hope is that this heightened awareness will encourage more Americans to get the life insurance coverage they need.

Recent LIMRA research shows that 36% of Americans plan to purchase life insurance this year. More>>

5 Things That Cost the Same (or More) as Life Insurance

30 Aug

Most people would say their family’s financial security is high on their list of priorities. And yet it’s hard to get excited about budgeting for life insurance.

A big part of that hurdle is cost — or, rather, perceived cost. The 2021 Insurance Barometer Study by Life Happens and LIMRA found that more than half of consumers surveyed overestimate the cost of life insurance by 300% or more. Younger Americans are likely to overestimate the cost by as much as six times! More>>

The Time is Right to Close the Life Insurance Gap

19 May

In 2010, 63% of Americans had life insurance, according to LIMRA. By last year, that number had dropped to just 54%. LIMRA’s research also revealed that 30 million American families lack life insurance, and another 30 million more are underinsured. That is a tremendous gap that leaves far too many families at risk. More>>

Life Insurance Industry Says More Americans Today are Inadequately Insured

31 Mar

Many Americans do not have nearly enough life insurance to support their families’ needs. In fact, about 44% of families say they would face financial hardship in six months if the primary wage earner were to die, noted David Levenson, president and CEO of LL Global, in a recent video presentation. Now, a group of life insurance organizations is aiming to change that. More>>

Many Americans Now Aspire to Retire by 55

29 Mar

Full-time retirement is making a resurgence at an earlier age with one third (38%) of current U.S. pre-retirees[1] currently under age 54, and an estimated 11.5M households with breadwinners under age 55 saying they “Aspire to Retire by 55,” according to a new report by Hearts & Wallets, the research and benchmarking firm that specializes in how consumers save, invest and seek financial advice. More>>

Emotional Intelligence in a Virtual World

17 Mar

Utilizing technology can increase your production by driving process efficiencies, eliminating time spent commuting and expanding boundaries to reach a wider clientele. However, how can you build a true client-advisor relationship when you may never meet clients face-to-face?

A recent MDRT survey revealed that 85% of Americans would be more likely to trust recommendations from human financial advisors if they demonstrate emotional intelligence (EI).1

Here’s how you can exhibit emotional intelligence — even through a computer screen — to effectively build trust. More>>