Life Insurance Literacy
August 3, 2021 by Mark Tattersall
When posed with the question of whether to buy life insurance, a reported 31% of Americans said they were more likely to seek out a life policy because of the COVID-19 pandemic. This LIMRA data shows that even a year after the pandemic’s onset, people’s heightened awareness around their mortality were still high — and they may very likely stay that way, as the pandemic shifted most everyone’s perceptions in one way or another.
And yet, 48% of Americans are still uninsured. What’s more — of those that are uninsured, 65% say that they don’t have insurance mainly because they don’t understand how to enroll in a plan, or know what type of insurance policy they need. They find the process overwhelming and burdensome.