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Pandemic fear arouses interest in the life insurance market

Covid-19 has sparked renewed interest in life insurance after five years of declining sales in the UK, Cover Magazine reports citing consulting firm Salisbury House.
Pandemic fear arouses interest in the life insurance market

The organization's research shows that sales of life insurance policies have dropped by 26% over the past five years, but interest in the product has increased since the pandemic in March this year.

Tim Salmens, the Managing Director of Salisbury House said: “The coronavirus has created a need to ensure the financial security of dependents after eventual death. Besides, some policies protect LIC clients from possible job loss.”

So far, there has been a slight increase in sales, but they say in LIC, they receive a large number of calls from potential customers.

“Young people who do not have chronic diseases purchase the cheapest life insurance policies,” the speaker concluded.

Source: https://www.covermagazine.co.uk/news/4017818/pandemic-fears-trigger-interest-life-insurance-market-adviser-research

Photos are from open sources. 

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