Life Insurance Quotes

More people head online to access information about their life insurance policies

07/25/11

A recent study by the Life Insurance Marketing and Research Association (LIMRA) found that roughly half of all life insurance policyholders have visited their provider's website. Seventy percent of these people visited the sites in order to use various online services.

LIMRA's research director, technology in marketing and distribution research, Mary Art, said "Not surprisingly, the majority of Generation X and Y policy owners and almost half of Boomer policy owners who have visited their life company's website sought online services from their insurers - citing convenience and ease of use as reasons they visited the sites. With internet usage growing almost 150 percent in the last decade, it is vital that companies understand who their online audience is."

The study highlighted the online features mentioned most by those surveyed. These included a search box, price and product comparisons, the ability to initiate personal changes online, access billing information and sign up for email and mailing address updates.

The majority of those interviewed stated that they were very satisfied with most of the online services offered by their respective insurers.

In 2010, LIMRA noted a 50-year low in the percentage of U.S. households possessing individual life insurance. Fifty-eight million households stated that they needed more life insurance coverage, and 11 million households with children under the age of 18 had no life insurance at all.

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