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.
Photos are from open sources.