The changing life insurance buying process

     ● About half (47%) of American consumers find simplified underwriting more appealing than traditional underwriting;

     ● Benefits of simplified underwriting:

          ◘ It’s fast and easy (63%);

          ◘ It’s unbiased and objective (57%);

          ◘ It offers transparent explanations of risk and pricing (57%);

          ◘ It avoids need to see a doctor (56%);

          ◘ It avoids medical exam, blood and urine samples (55%);

          ◘ It avoids face-to-face conversation (40%)

     ● The majority (74%) of consumers who buy their life insurance online work full-time;

     ● Similar to those who buy in person, about half of those who buy online are married;

     ● Consumers who purchased life insurance online tend to have fewer investable assets than those who purchased in person (on average, $179K vs. $289).



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