A little more than three-quarters (76 percent) of Canadians favor purchasing life insurance in a face-to-face meeting with an agent over buying from work, the Internet, or by direct mail or phone, according to new research.
Research firm LIMRA discloses this finding in its “2013 Canadian Life Insurance Ownership Study,” which monitors long-term patterns in life insurance ownership, adequacy of coverage, and consumers’ attitudes about life insurance. The study surveyed more than 3,200 Canadian household financial decision makers.
“Our research found that six million Canadians believe they need more life insurance and three-quarters of those we surveyed would prefer to buy it face-to-face,” says LIMRA Senior Research Director Cheryl Retzloff. “These findings should suggest a high potential for increased sales. When we asked what keeps consumers from buying life insurance, the top two reasons given were: low priority and a perception that it’s not affordable.”