COVID-19 has increased the consumers likelihood to buy ( spring 2020 )
29 % Nearly 7 in 10 recent buyers
68 % * *
of “ non-buyers ” ( no life
22 % of consumers overall report that they are more likely to buy life insurance in the next 12 months , suggesting a market opportunity of
75 million adults .
( those who purchased life insurance in the past 24 months ) indicate that COVID-19 makes them more likely to buy life insurance in the next 12 months . insurance purchased in the past 24 months ) report that COVID-19 has increased their likelihood to buy life insurance .
* Updated September 17 , 2020 .
During COVID-19 , 4 in 10 Americans bought life insurance through a hybrid approach — online and consulting with an advisor .
“ Likely to Buy ” Life Insurance was at the highest since we started tracking – before the pandemic .
Before the pandemic During the pandemic
Source : 2020 Customer Experience Study , LIMRA and Boston Consulting Group
Source : 2020 Insurance Barometer Study , * Non-owners who are very or extremely likely to buy life insurance in the next year