Life Insurance - US - September 2014
“Life insurance is not a product people like to buy and ownership rates continue to fall. Continued low interest rates aren’t helping, and neither is the fact that many people feel it is better to save money than it is to pay insurance premiums. It is no coincidence that life insurance sales are down at the same time that the demographics of America are changing. Women, unmarried individuals, and Hispanics all have low rates of life insurance ownership, and all are growing segments in the US. Life insurance companies have to make their products attractive to these groups if they want to begin stemming the tide.Changing demographics offer both challenge and opportunity as companies struggle to find a way to bolster sales.”
– Robyn Kaiserman, Financial Services Analyst
This report covers the following issues:
- Life insurance is increasingly important for women
- The changing definition of "family" offers other emerging markets
- How can life insurance companies attract Millennials?
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