Do I Need Life Insurance? How Much Should I Get? TheStreet 12/14/2020
By Georgia Rose
Perhaps fueled by acute awareness of their own mortality, many Americans shopped for life insurance during the pandemic. But some lost interest when local Covid-19 cases declined, a new NerdWallet survey found.
More than a third (35%) of those who considered purchasing life insurance due to the pandemic but ultimately didn t buy say they decided against it because Covid-19 cases in their area started going down.
This behavior suggests some people view life insurance as a panic purchase, says Grant Dunn, vice president of financial services at Lakenan Insurance, a brokerage in Missouri. That s not what life insurance is made to do. It s not meant to protect people for the next six months while Covid cases are high in their area. It s meant to protect the family during all of your income-earning years and beyond.
Life Insurance Shoppers Lose Interest When COVID-19 Cases Drop
December 10, 2020 8:00 AM Georgia Rose
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Perhaps fueled by acute awareness of their own mortality, many Americans shopped for life insurance during the pandemic. But some lost interest when local COVID-19 cases declined, a new NerdWallet survey found.
More than a third (35%) of those who considered purchasing life insurance due to the pandemic but ultimately didn’t buy say they decided against it because COVID-19 cases in their area started going down.
This behavior suggests some people view life insurance as a “panic purchase,” says Grant Dunn, vice president of financial services at Lakenan Insurance, a brokerage in Missouri. “That’s not what life insurance is made to do. It’s not meant to protect people for the next six months while COVID cases are high in their area. It’s meant to protect the family during all of your income-earning years and beyond.”