‘People Like You’ Have Big Influence On Buying Life Insurance
January 26, 2016 by LIMRA
WINDSOR, Conn., Jan. 26, 2016 — A new LIMRA study using behavioral economics finds consumers are more likely to buy life insurance when people similar to themselves own coverage. In the study consumers were given eight messages that challenged their biases toward life insurance ownership with one stating “most Americans do own life insurance, including people like you.”
“This was the most successful message we tested,” said Jennifer Douglas, associate research director, Developmental and Strategic Research at LIMRA. “Attitudes about life insurance improved for all demographic groups in some way when having coverage is perceived as a social norm.” Click HERE to view article
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