No. 4 They started searching after a key life event
Emotions are tied to their decision
Ethos’ research reinforces the data that shows that life events—buying a house, having a baby, or experiencing the death of a loved one —are often the driving force behind consumers seeking out coverage.
“I’ve recently had family and friends lose people and stress about paying for final expenses, so I decided to take learning about life insurance more seriously.”
— 27-year-old Ethos policyholder
The pandemic has also been a significant driver, with 31% of respondents in LIMRA’s 2022 Insurance Barometer Study saying they’re now more likely to buy life insurance as a result. “The lasting impact of COVID remains at the forefront for many,” says Faisa Stafford, LUTCH, president and CEO of Life Happens.
Just be aware that consumers’ emotions may be raw based on their reason for coming to you, so do your best to guide them in the right direction while being sensitive and listening.
Whether it’s a happy or sad event, Ethos’ research found that learning about life insurance brings up a range of complicated emotions. LIMRA’s 2022 Insurance Barometer Study found that 40% of respondents felt discomfort with end-of-life discussions.
While these discussions may be difficult, agents can focus on the positives:
Health
Longevity
Peace of mind
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