Elderly Life Insurance Application Flow Increases | Think Advisor

its meaning

Due to the COVID-19 pandemic, older customers may be interested in life insurance. But it’s also possible that older customers are using more cash value life insurance. income plan Arrangements and long-term care planning arrangements.

detail

Below are the October activity change figures for applicants in five different age groups.

  • 0-30 years old: -6.9%
  • 31-50 years old: -7.4%
  • 51-60 years old: -3.0%
  • 61-70 years old: +0.2%
  • 71+: +1.3%

Here is how activity has changed for three different types of life insurance products:

  • Term Insurance: +0.4%
  • Universal Life: -6.2%
  • Lifetime: -14.3%

(Image: Shutterstock)

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