Life Insurance Statistics Mean Agency Opportunity

If your insurance agent clients are looking for ways to sell more life insurance to consumers, consider the information uncovered by a recent Ipsos poll.

  • Just over 70% of consumers are covered by life insurance policies which means agents have the potential to sell new policies to the 3 out of 10 uninsured adults.
  • Attitudes about the purpose of life insurance vary by age. Younger consumers are more likely to consider life insurance as a financing vehicle for their children’s future education while older consumers envision the payout will cover death-​related expenses.
  • Consumers find life insurance agents in the following ways: Word-​of-​mouth and Yellow page searches.
  • Consumers are equally likely to purchase life insurance directly through an agent or through an employer-​sponsored program.

Remind your insurance agent clients to market their plans to individuals and businesses and keep benefits language simple as many consumers indicate that they find purchasing life insurance to be a confusing process.

Source:

Ipsos release, May 15, 2008

Kathy Crosett
Kathy is the Vice President of Research for SalesFuel. She holds a Masters in Business Administration from the University of Vermont and oversees a staff of researchers, writers and content providers for SalesFuel. Previously, she was co-​owner of several small businesses in the health care services sector.