Study Shows Positive Climate For Life Insurance
April 6, 2016 by PRNewswire
ARLINGTON, Va. and WINDSOR, Conn., April 5, 2016 /PRNewswire/ — An increase in consumers willing to recommend life insurance to others contributes to a more positive climate for the product, according to the 2016 Insurance Barometer Study.
The study, conducted jointly by not-for-profit research industry trade association LIMRA and the non-profit educational organization Life Happens, finds 66 percent of consumers say they are at least somewhat likely to recommend ownership of life insurance to others, an increase of 11 percentage points over last year. Nearly 9 in 10 consumers (86 percent) agree that most people need life insurance.
“We’re encouraged by Americans’ understanding of the need for life insurance and their openness to consider purchasing it,” said Marvin Feldman, CLU, ChFC, RFC, president and CEO of Life Happens. “While not everyone who shows interest in life insurance ultimately buys it, increased awareness of the importance and benefits of a life insurance policy is a promising development.”
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