Uptick in Interest in Life Insurance During the Pandemic
March 9, 2021 by Tim Kehrer and Steve Lipker, Kehrer Bielan Research & Consulting
The COVID-19 pandemic has now witnessed an increase in the number of U.S. households that acknowledge that they do not have sufficient life insurance coverage, after its decline since 2012. According to Larry Cohen, director of the Consumer Financial Decisions [CFD] Group at Strategic Business Insights, “Because attitudes change before behaviors do, attitude trends directionally signal changes most likely to happen. The analysis of attitude shifts resulting from the past two recessions—the dot-com bubble (in 2001) and the financial crisis (the Great Recession) of 2007-09—suggests what will happen if the recession we are currently experiencing were simply another recession. The length, depth, and breadth of the COVID-19 recession are unprecedented in modern history.”
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