The life insurance segment is apparently one of beneficiaries of the general trend of the financial reserve redistribution from bank deposits to other instruments. The life insurance policy sale continued even during the tough quarantine. This means that life insurance products remain in demand on the part of certain categories of clients, and in the medium term the rate of reserve accumulation in the life insurance segment will outstrip the bank deposit growth.
Life insurance is usually just one of a pool of retirement savings tools that the average citizen uses. More than half of Americans have at least one life insurance policy, and the proportion of families where at least one of the spouses has such a policy is even higher. Long-term policies within the framework of pension savings plans make the most of it.
Photos are from open sources.
