Close Close
Sign In
Newsletters
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards
Podcast Center Video Center Webcasts Resource Center Events
About ThinkAdvisor Contact Us Advertise With Us Asset & Logo Licensing Sitemap Terms of Service Privacy Policy Copyright © 2024 ALM Global, LLC. All Rights Reserved.
ThinkAdvisor

Life Health > Health Insurance

NAIC: Slump Hits Policy Ownership

By Staff Writer

X
Your article was successfully shared with the contacts you provided.

The economic slowdown may be having some effect on consumers’ ability to keep life and health insurance policies.

Officials at the National Association of Insurance Commissioners, Kansas City, Mo., have published statistics concerning the effects of the economy on insurance ownership in a summary of results from a survey of 682 U.S. consumers.

About 22% of the participating consumers said they have reduced the number of times they see the doctor as a result of economic conditions, officials report.

The NAIC found that 5% of consumers said they have experienced health insurance coverage changes as a result of the economy, and 6% said they have experienced life insurance coverage changes.

About 2% of the consumers have reduced their health coverage, 1% have fallen behind on health coverage payments, and 2% have canceled health coverage policies.

Only 1% of the consumers have reduced their life insurance, but 2% have fallen behind on life insurance payments, and 3% have canceled life insurance policies, officials report.

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.