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How Customers Purchased Whole of Life Assurance in 2020

ReportLinker
·2-min read

Summary This report examines consumer purchasing behaviors and preferences in the whole of life assurance market, covering both guaranteed acceptance and underwritten policies.

New York, March 25, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "How Customers Purchased Whole of Life Assurance in 2020" - https://www.reportlinker.com/p06039257/?utm_source=GNW
It identifies the most common purchasing trigger among customers, reveals the most popular purchasing channel and method, and explores the key features customers want from their policies.

The attitudes, preferences, and behaviors of customers purchasing whole of life assurance in the past 12 months differed depending on whether the policy was a guaranteed acceptance or whole of life underwritten policy. This affected factors including whether they purchased independently or with advice, what triggered them to purchase a policy, their top financial concerns, and the product features they sought.

Scope
- Speaking to an IFA or broker was the most common pre-purchase activity in 2020 among whole of life underwritten customers.
- Purchasing directly from an insurer was the most common channel used by guaranteed acceptance customers, increasing its share of distribution considerably in 2020.

Reasons to Buy
- Understand consumer purchasing decisions and how these will influence the market over the next few years.
- Improve customer engagement by recognizing what is most important to them and how to adapt your products and services to meet their needs.
- Discover which providers lead the way in the whole of life assurance space.
- Adapt your distribution strategy to ensure it still meets customer purchasing behaviors.
Read the full report: https://www.reportlinker.com/p06039257/?utm_source=GNW

About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.

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