Video Features Stafford Thompson, Jr., Senior Vice President of Life Product Management, and Faisa Stafford, President and CEO of Life Happens
A recent study by Lincoln Financial Group finds that the COVID-19 pandemic has increased awareness around the need for life insurance among American consumers. In fact, more than a third of those surveyed think that life insurance is more important to own now, due to the pandemic. As a result of the pandemic, a third also said they have or are planning to purchase new/additional life insurance. Similarly, a separate study conducted by Life Happens found that a third of Americans have discussed life insurance coverage with their family during the pandemic.
While it’s encouraging that more people are discussing and evaluating life insurance, just 50% of Americans own a policy according to the Lincoln survey.
Recently, Stafford Thompson, Jr., senior vice president of Life Product Management for Lincoln, spoke with Faisa Stafford, president and CEO of Life Happens, to discuss recent survey findings from both organizations, dispel some of the misperceptions around life insurance including costs, and educate on the many ways life insurance can help families secure their financial futures beyond just providing income replacement.
Watch the video here.