Life Insurance in a Recession

[marindependent]

This situation can hardly be related to the depression or even the recessions of years gone by.

In what sense?

The last major pandemic (the Spanish Flu) was in 1918 to 1919 ish. There was a Depression that most people have never heard of, that started very nearly after the Spanish Flu. Most have never heard of it In fact its sometimes known as the depression that you have never heard of. The Depression of 1920-1921.

Some people believe the two are not related. Some believe they are.

I agree that today - things are different, some better and worse ways. Today's situation is more unique because of the "lockdown factor."

 

[rousemark]

In what sense?

The last major pandemic (the Spanish Flu) was in 1918 to 1919 ish. There was a Depression that most people have never heard of, that started very nearly after the Spanish Flu. Most have never heard of it In fact its sometimes known as the depression that you have never heard of. The Depression of 1920-1921.

Some people believe the two are not related. Some believe they are.

I agree that today - things are different, some better and worse ways. Today's situation is more unique because of the "lockdown factor."

Without going into all the things that are different today I will mention one no one talks about. The internet... That economy is booming.. It has enabled a lot of people to continue to work that would have been laid off in previous health crisis as well as continuing to allow people to shop and buy. Look at the result it has had on the insurance industry. Some companies are recording record sales brought about by the increased use of telesales.

 

[DHK]

One of the GREATEST things to come out of this whole pandemic is how web conferencing is becoming the new norm for how business is conducted. It allows people to "visit your office" without leaving theirs! It's become normal to just send people a Zoom link to join you on a web conference (or a "Zoom call") and people know how it works!

I may completely eliminate "field work" altogether!