More Americans Buying Life Insurance Directly From Insurers
February 14, 2017 by LIMRA
WINDSOR, Conn., Feb. 13, 2017–A LIMRA study, U.S. Life Insurance Trends 2016, indicates more consumers than ever before are saying they have purchased individual life insurance policies directly rather than from a financial professional.
The study finds that the direct purchasing of individual life insurance has increased by more than 25 percent in each of the last two study periods with 2016 recording the highest proportion ever recorded in the study at 29 percent.
“There are many factors that contribute to the increase in direct purchasing, but the overriding cause is the evolution of technology,” said Jim Scanlon, senior director of LIMRA Insurance Research.
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