More consumers consider life insurance unnecessary – study
November 17, 2020 by Ryan Smith
The percentage of Americans with life insurance policies continues to decline, driven by declining interest among mass-market consumers under the age of 45, according to a new study from J.D. Power.
According to J.D. Power’s 2020 U.S. Life Insurance New Business Study, the most common reasons consumers decide against purchasing life insurance is the perception that it is unnecessary, too expensive, or too complicated to purchase. The study found that those perceptions were easy to overcome when carriers, advisors, or sales agents executed best practices with prospects throughout the process, J.D. Power said.