Pandemic Hasn’t Driven Consumers To Buy More Life Insurance, Study Says
October 14, 2020 by Jacqueline Sergeant
The 200,000-plus U.S. deaths and uncertainty associated with the Covid-19 crisis have not moved people to run out and buy life insurance, according to the J.D. Power 2020 U.S. Life Insurance Study, released today.
The study, based on responses from 5,469 individual life insurance customers and 3,674 annuity customers and fielded from June through August, found that the number of customers without life insurance who considered purchasing a policy remained largely static, hovering around 40%, during the during the height of the pandemic in March and April.