Life Insurance Quotes

Life insurance confidence remains high

10/27/11

A new Ernst & Young survey indicates that confidence in life insurance among financial service remained high through the third quarter.

According to the survey, nine out of 10 insurance companies are satisfied with business conditions from the third quarter, which is an increase from the previous quarter.

"Usually life insurance confidence is quite closely aligned to equity market strength," said Tim Rutherford, insurance spokesman at Ernst & Young. "The third quarter of 2011 was an exception. However, the global stock market volatility that was experienced late in the third quarter appears not to have had an impact on the outlook for life insurers just yet, perhaps because the sharp falls in equities happened so late in the quarter."

Rutherford went on to say that confidence levels remain high in the life insurance market because of sustained premium income, despite the recent troubles of the financial market.

Consumers investing in life insurance are driving the market, even with the unemployment rate still hovering above 9 percent. According to statistics from the U.S. Census Bureau, more than 49.9 million Americans were without life insurance in 2010, up from 49 million the previous year.

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