Some U.S. consumers may be deciding they prefer flesh-and-blood life insurance agents to online insurance purchasing systems.
The nonprofit organizations commissioned an online survey of 2,031 U.S. adults ages 18 through 75. About half said they had visited a life insurance company’s website at some point. Roughly one-quarter of the participants said they had purchased, or tried to purchase, life insurance online.
The participants were cool to the idea of cutting live humans out of the life insurance purchase process.
LIMRA asked consumers to react to several possible benefits of buying coverage through simplified underwriting process. About 63% of the seniors surveyed said they liked the idea of transparent risk classification and pricing, and 61% said they liked the idea of a fast, easy purchasing process.