Does the Purchase of Life Insurance Increase or Decrease in Bad ?

[Lepalms]

In the current economy, does the purchase of Life Insurance tend to decrease, maintain, or decrease?

One might think that since Life Insurance is not tangible, most who don't already have it, would not chose this to purchase. Is this theory pretty accurate?

If not, who tends to purchase in this type economy?

</IMG>

 

[insuranceexec]

In the current economy, does the purchase of Life Insurance tend to decrease, maintain, or decrease?

One might think that since Life Insurance is not tangible, most who don't already have it, would not chose this to purchase. Is this theory pretty accurate?

If not, who tends to purchase in this type economy?

</IMG>

Everybody will continue to buy insurance; others will let their policies lapse. I have found that if you think it will be a problem for them to afford; it will.

I have personally written $192,000 in life premium for the month of January. Now granted there is one rather large case that I have been working on for the last three months, but still by anyone's measure this is a good month.

The people who are not directly affected; i.e. monetarily with monthly living expenses, are your more affluent people. People close to retirement or already retired.

I do not know your business model, but I am assuming that you are talking about the younger crowd and term insurance. If this is the case I will offer this:

If they already have coverage they are always looking for cheaper rates or more benefits. Lastly, unemployment is only affecting roughly 7.2% of Americans. That means that 92.8% of Americans still have jobs. (Are you a glass is half-empty; or half-full kind of person?)

Of the ones that have jobs the hours worked weekly has only fallen by 4%. Meaning that in a 40 hour work week, the average American has lost 1.6 hours per week. Consistently saving the customer money on their existing term insurance should keep them on the books. I hope this has helped.

Unemployment Soars to Highest Level in 16 Years - NYTimes.com

</IMG>