This week we have an update on life insurance application activity from the MIB Life Index, a study from LIMRA and Life Happens on the presence of social media creating success for agents and advisors, and a release from Oxford Life on their InstaWrite process.
U.S. Life Insurance Activity Turns Positive in March Reports the MIB Life Index | MIB Life Index | April 9, 2018
U.S. life insurance application activity turned positive in March up 6.7%1 year-over-year, according to the MIB Life Index. The Index declined in the first two months of 2018, but March activity put the first quarter on par with where it stood Q1 2017 (0.0% YTD), and off -4.5% from its most recent first quarter high point in 2016. March application activity was 6.4% higher than activity in February.
Read the full update on mibgroup.com here.
Strong Social Media Presence Critical Part of Success for Life Insurance Agents and Advisors, LIMRA-Life Happens Joint Report | LIMRA | April 10, 2018
When it comes to purchasing life insurance, consumers are engaging online and through social media platforms as a way to evaluate financial products and financial professionals.
The new study, conducted jointly by the non-profit educational organization Life Happens and not-for-profit research industry trade association LIMRA, highlights the fact that social media is a critical marketing tool for agents and advisors to be successful today.
The annual Insurance Barometer Study tracks consumer understanding and preferences when it comes to life insurance ownership, and uncovers common purchase barriers and misconceptions. In addition to focusing on life insurance, long-term care and disability insurance, the study also reveals how average consumers feel about their financial situation and outlook.
Review the study on limra.com here.
Oxford Life’s InstaWrite to Expedite the Life Insurance Sales Process | PRNewswire | April 10, 2018
Oxford Life Insurance Company has initiated a new, simpler and speedier life insurance qualification process. Oxford Life InstaWrite℠ is a streamlined and better experience for both agents and clients. InstaWrite improves upon the traditional life insurance sales process by featuring an almost instant health assessment.
As of April 5, agents can use this new process for all Final Expense and Single Premium Life insurance sales through Oxford Life.