Why All Families Need Life Insurance Today

COVID-19 has been a part of our daily lives for almost two years now, and the pandemic has raised people’s anxieties and awareness regarding their financial health. Before 2020, there were 30 million families in America without life insurance. Another 30 million did not have enough in their policy to cover the loss of a primary wage earner.

Now that over 600,000 Americans have felt the financial impact of the loss of a loved one, the importance of life insurance is clear for more families than it has ever been before. This need for coverage means that now, more than ever, it is our duty to raise awareness about financial solutions, dispel misconceptions about life insurance and bring all people financial security and peace of mind.

"Over 600,000 Americans have felt the financial impact of the loss of a loved one — the importance of life insurance is clear."

Buying a Policy is Easier Than Ever

Automated underwriting has revolutionized the industry recently with almost 90% of life insurers currently offering or planning to offer this simplified process. With an average of nine days from applying to receiving a final decision, automated underwriting makes buying life insurance two-thirds faster than the 27 days it used to take.

Furthermore, e-signatures are now accepted by 90% of life insurance companies to simplify the application process and honor social distancing norms. 56% of insurers are allowing e-delivery of policies as well. This is good news for those who wish to protect families and safeguard generational wealth, as 50% of Americans surveyed have said that an automated underwriting process means they are more likely to buy a policy.

"Automated underwriting has revolutionized the industry recently with almost 90% of life insurers currently offering or planning to offer this simplified process."

Life Insurance Gives You Security and Peace of Mind

Life insurance is not only for financial health. It can also bring emotional benefits like peace of mind and lower stress levels. For example, upon knowing their families are financially protected, 69% of policyholders noted less stress than before they were covered. In fact, nine out of ten people with life insurance agreed that owning a policy gave them peace of mind.

Show your loved ones you care by protecting them against unknown risks. Financial security and emotional well-being are only two of the profound benefits that coverage can bring — there are also policy features that can be tailored to each individual, from living benefits to ABRs to protection against market downturn. There has never been a better time to buy life insurance, so if you or a loved one is still uninsured, connect with an agent today.

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