Ownership Tilts to Broader Mix of Life Products

March 28, 2017 by Cyril Tuohy

Among households owning individual life insurance policies, a record 30 percent own a mix of term and permanent life, an increase of 12 percent in six years, a new life insurance trends ownership survey found.

Only 44 percent of households own individual life insurance products of any kind and it is the first time that life insurance owners are more likely to own term than permanent life (68 vs. 62 percent), LIMRA’s 2016 U.S. Individual Life Insurance Trends survey found.

The change in the ownership mix should be of interest to agents since most people across all age groups prefer to buy their life insurance in person from an agent.

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Originally Posted at InsuranceNewsNet on March 27, 2017 by Cyril Tuohy.