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>>

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>>

Awareness of Simplified Underwriting Boosts Chances People Will Buy Life Insurance

14 Apr
While already underway prior to the COVID-19 pandemic, many life insurance policies are now underwritten through “simplified” or “streamlined” processes, which are less reliant on physical data (e.g., blood, urine, examination) and more reliant on readily available datasets (e.g., medical, financial, personal). More>>

COVID Sparks Life Insurance Revival

9 Mar

COVID-19 will be best remembered as a difficult time in American history: More than 450,000 deaths, soaring unemployment and shuttered businesses. But the pandemic has also altered the American psyche, with people rethinking how they live, work, socialize and spend money. They’re paying down debt and buying life insurance. Yes, life insurance, a product that before the pandemic had been suffering from a long-term slide. That’s not to say life insurance wasn’t important. More>>

Help Protect Our Families

25 Feb

As we begin 2021, COVID-19 continues to take an unimaginable toll across America and around the world. The pandemic has heightened people’s anxieties around their physical, emotional, and financial health.

Even before the pandemic, LIMRA research revealed there were 30 million American families uninsured and 30 million more underinsured. The prospect of losing a loved one is more of a reality as over 400,000 families have lost a loved one to COVID-19 to date.

While our industry cannot prevent the human tragedy unfolding in our country, we have an opportunity and obligation to help more individuals, households, and businesses secure the financial protection they need. More>>

LIMRA Unplugged: 2020 Life Insurance Awareness Month

23 Sep

In this episode of Unplugged Lite, LIMRA reached out to executives at our member companies to get their perspectives on the importance of life insurance. Conor Murphy, executive vice president and chief operating officer, Brighthouse Financial; Barbara Turner, president and chief operating officer, Ohio National Financial Services; and Dave Wilken, president of the Life Insurance Business, Global Atlantic Financial Group talk about why life insurance matters. Listen to tips from industry leaders on the importance of life insurance and how it can provide security and protection for your clients. More>>