16/10/2024
In the early 1990s, the primary incentive for getting life insurance was to save on taxes. Later, it became a valuable instrument for saving money for the future.
The true goal of life insurance, shielding family income in the event of an unexpected death, known as term insurance, gained traction later in 2010.
In general, the trend of purchasing term insurance for this specific purpose became more important following Covid.
However, in actuality, along with safety, wealth development gained centre stage and played an important role in consumer decisions.Though on a relatively small scale, my advisers team's examination of insurance sales trends shows that shift is indicative of the trend. Limra's ( Life Insurance Marketing & Research Association) research on trends revealed comparable trends.