P&C agents looking to supplement personal-lines income might be well positioned to broaden their books of business with individual life-insurance sales—but first they need to better understand what's stopping many people from buying the coverage in the first place.
Those P&C agents looking to enter or expand in the life-insurance market could gain insights into what they are up against by studying the results of a pair of surveys by Deloitte Research of 1,071 consumers with the coverage and 1,000 who are uninsured.
Specifically, the Deloitte surveys examine how respondents perceive the value of life insurance, where the coverage ranks among their other financial priorities, as well as their sales channel preferences. The surveys also identify some of the marketing challenges life sellers face in expanding their penetration among both the uninsured and underinsured.
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