Life insurance and financial services companies faced a tough business climate over the last several years ― from the fallout of the pandemic, to rising interest rates and inflation, to the increased use of technology, to heightened customer expectations. LIMRA spoke with industry executives to see how their companies are handling these challenges and what they see for the future.
3 min read
LIMRA Asks Financial Services Executives to Weigh in on Industry Challenges
By LIMRA on May 4, 2023 10:13:41 AM
Topics: Financial Planning Technology Industry News LIMRA COVID-19
2 min read
Americans’ Worries Shift from COVID-19 to the Economy
By LIMRA on Feb 1, 2023 10:00:00 AM
With the COVID-19 vaccination rate up and the number of deaths significantly declining, only 1 in 5 adults are “very” or “extremely” concerned about the virus today, according to LIMRA’s October Consumer Sentiment in the Time of COVID-19 study. In the research, more than 3 in 5 adults say their lives are largely back to what they were like before the pandemic ― going from 31% in January to 62% in October.
Topics: Benefits Group & Employee Benefits COVID-19
3 min read
Meeting the Life Insurance Need Through Workplace Benefits
By LIMRA on Jun 16, 2022 10:00:00 AM
COVID-19 raised consumers’ awareness about the importance of life insurance. According to LIMRA research, half of U.S. workers believe their life insurance benefit is more important due to COVID-19. To ensure every worker who has access to life insurance at their workplace opts in, our industry needs to expand efforts to educate employers about the value their workers place on life insurance and encourage them to highlight this important benefit during their next open enrollment.
Topics: Life Insurance & Annuities Group & Employee Benefits Research/Trends COVID-19 Insurance
2 min read
Pandemic Drives Increased Interest in Benefits
By LIMRA on Apr 28, 2022 10:00:00 AM
With all of the health issues brought on by the COVID-19 pandemic, LIMRA research shows employees are placing greater importance on the benefits offered by their employers, and are more closely examining their benefit needs.
In 2020, LIMRA asked full-time employees with insurance benefits what changes they made to their benefits package during their 2020 open enrollment period. The results highlight the immediate short-term impact of the pandemic.
Topics: Benefits Group & Employee Benefits Voluntary Benefits Research/Trends LIMRA COVID-19
3 min read
Interest in Life Combination Products Shifts
By LIMRA on Apr 21, 2022 1:05:00 PM
As the pandemic spread, images of nursing homes and assisted care facilities flooded the media. The sick and elderly were particularly vulnerable to this deadly virus and so many families were cut off from their parents and grandparents in the hopes of protecting them from exposure to COVID-19.
With this in mind, LIMRA surveyed more than 2,000 Americans to determine if the pandemic has shifted their thoughts about long-term care and insurance.
Topics: Long-Term Care Life Insurance & Annuities Research/Trends LIMRA COVID-19 Insurance
3 min read
Did COVID-19 Change Employees’ Benefit Tactics During the 2020 Open Enrollment?
By LIMRA on Apr 18, 2022 1:06:00 PM
The general perception has been that the pandemic would radically increase employees’ appreciation of benefits and possibly increase their need for certain benefits, but how benefits may evolve based on these changes remains unclear.
With the pandemic shaking the country for more than 12 months now, employee benefits experts are trying to gain insights into which actions employees will take as a result of COVID-19 and whether carriers will see a positive impact on participation rates. The general perception has been that the pandemic would radically increase employees’ appreciation of benefits and possibly increase their need for certain benefits, but how benefits may evolve based on these changes remains unclear.