Insurance tips for tough economic times

Insurance tips for tough economic times

Roughly 56 percent of Americans say the economic downturn has made it more important to have life insurance, compared to just nine percent who believe the need has diminished, according to a survey released by the nonprofit Life and Health Insurance Foundation for Education (LIFE Foundation). In addition, over the past year more people appear to have added to their life insurance coverage than have lost or reduced their coverage.

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How does the economy impact life insurance coverage sales?

How does the economy impact life insurance coverage sales?

Economic conditions have recently translated into a better outlook for the life insurance industry, according to Moody’s Investor Services.

Strengthened employment rates and consumer spending are among the factors that could contribute to increased life insurance coverage sales, while variable-annuity and asset-based businesses have improved along with elevated stock prices. These factors should contribute to stronger capital, according to the report, boosting companies from negative to stable outlooks.

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