Tag: life insurance statistics

Life insurance is not proving its importance to the Millennial generation

Julie Campbell
Life Insurance Statistics

September is the month that recognizes this type of coverage, but young people are not convinced. This month is Life Insurance month and while there are some demographics that have a tendency to recognize the benefit of carrying this type of coverage, for others, such as the Millennial generation, the importance of this protection is not as clear. September is seen as an important time to review the policy and ensure that it is still appropriate to current needs. Every September, the life insurance sector reminds consumers to consider their…

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Life insurance study shows satisfied claimants

G. Turner
life insurance customer satisfaction

The results of a recent study have revealed that 95 percent of the people who have made claims are satisfied. According to the outcome of a recent LIMRA survey, additional services offered by life insurance companies, such as coverage coordination and grief counseling are generating a larger amount of business, boosting recommendations, and are enhancing the positive perception of claimants. The study showed that among the beneficiaries of the policies, the vast majority are quite satisfied with the experience. The LIMRA research indicated that 95 percent of life insurance beneficiaries…

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Life insurance being used by parents for their kids’ student debt

Julie Campbell
health insurance for student

The overwhelming amounts that are owed are leading to some unique protection strategies. A life insurance trend has been building over the last short while that has parents taking out policies on their children in order to protect themselves against the overwhelming student debt that they carry. Many parents co-sign on student loans, leaving them at a considerable risk if their children should die prematurely. It is becoming increasingly common for parents to protect themselves from the debts of their children’s educations by purchasing life insurance policies following their graduation…

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Report shows consumers think life insurance is almost three times more costly than it is

Julie Campbell
Life insurance

A study performed by LIMRA and the LIFE Foundation has revealed many consumer misunderstandings of life insurance coverage. LIFE Foundation and LIMRA released a report based on the findings of a joint study that has shown that consumers have many misunderstandings about life insurance – such as its cost – and that this might be deterring them from seeking to obtain coverage that could be very beneficial to them. The participants in the survey were requested to provide their best guess as to how much a 20-year level-term life policy…

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MIB Life Index shows 4.2 percent increase in American life insurance activity this year

Life insurance market seeing a growth spurt. According to the data from the MIB Life Index, the American application activity, all ages combined, for the first quarter of 2012 in individually underwritten life insurance saw a 0.3 percent year-over-year increase. Though April has been seeing a slow decrease in this activity, the first quarter as a whole saw a year-over-year rise by 4.2 percent. This is the best improvement that the industry has seen since 2007. In February, the application activity was 4.5 percent higher than it was in March.…

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