Tuesday, June 10, 2014

Why don't more families have life insurance?

According to Chris Blunt of New York Life, one answer is a lack of agents.
Blunt says a second macro factor is at play as well: The number of insurance agents entering the field has been declining, and those who do work for the big life insurers are aging.
Fewer agents out pitching life insurance policies "gave people a further excuse to put off a discussion that they'd like to put off anyway," he said.
Blunt's point is one that has been confirmed by LIMRA research and a survey by CFS.  It is one reason CFS works with states to ensure that agents entering the profession in states do not face higher than necessary barriers to entry.  If we as a society want more families to protect themselves with tools like life insurance, we need to make sure every community has access to professionals who can help them acquire it.