An Agent’s Case for Term Life
September 28, 2021 by Mark A. Peterson
The COVID-19 pandemic has caused everyday Americans to seriously consider their own mortality and the potential financial consequences for their loved ones. As a result of people’s heightened focus around health and financial security, we have seen an increased awareness of the value of life insurance — particularly with younger generations.
In the first six months of 2021, the total number of policies sold increased 8%, compared with prior year results. This is the highest policy sales growth recorded since 1983, according to LIMRA’s Second Quarter U.S. Individual Life Insurance Sales Survey. LIMRA’s research also shows that 36% of Americans plan to purchase life insurance this year and when it comes to millennials, 48% say they plan to buy coverage.