Confident about the life Insurance industry, but skeptical about the pricing of its products? You are not alone, according to a recent LIMRA study. In LIMRA’s Consumer Confidence in Life Insurance Companies study, those with a positive claim experience had more confidence in the industry, than those with a negative or no experience.
“One area where there is notable disagreement is pricing… having not seen the value of the coverage for themselves, forty-one percent of those with either no experience or a less than favorable experience suspect that life insurance products are not priced appropriately. Slightly fewer agree with the statement of transparency,” states Jennifer Douglas in the article. About half of both of these groups agree that the life insurance industry offers products that are too complicated.
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