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Study sheds new light on life insurance industry

01/17/12

A recent study by Acxion Corporation, a leader in marketing services and technology, shows that despite the avenues open for life insurance industry expansion, growth remains stagnant.

The study found that nearly half of all adults are uninsured or lack the necessary amount of coverage, which brings the ownership rate of life insurance policies to a new 50-year low. Additional study results included 68 percent of Millennial respondents saying they use social media as part of their life insurance research activity.

"Birth, death, marriage, divorce and retirement are all significant life experiences that represent valuable opportunities to re-examine life policy coverage," said Rose Cahill, Acxiom vice president, insurance industry. "Consumers are already using digital channels to educate themselves and solicit advice about life insurance; therefore carriers should consider using digital to augment their more traditional marketing practices to reach these audiences with personalized messaging."

Consumers who are in the market for life insurance may want to consult the internet and obtain comparison quotes in order to single out the most attractive rate for the policy they are looking for. Comparing life insurance quotes online is a proven, effective way to locate optimum life insurance coverage.

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