Forty percent of those surveyed answered that they didn’t know how insurance companies were determining prices and premiums, while 47% of those surveyed said they only “somewhat” understood how these choices were made by insurance companies.
EL DORADO HILLS, Calif. (PRWEB) September 27, 2018
IntelliQuote, a digital life insurance broker, recently partnered with Survata to conduct a study on term life insurance. The insurance firm aims to use their survey findings to spread awareness about the life insurance needs of the average American. These findings come during the midst of Life Insurance Awareness Month, which IntelliQuote is celebrating in partnership with Life Happens, a nonprofit dedicated to helping people find accessible, reliable insurance options.
More than 600 participants were surveyed regarding their knowledge of term life insurance, an insurance option when a person buys a policy for a set time period at a fixed rate. The motive behind the survey was to discover whether Americans were familiar with term life insurance, if they were purchasing this type of insurance, and if they were armed with the knowledge they needed to make the best choices for themselves and their families.
Across the board, 100% of participants had purchased or were interested in purchasing life insurance. This demonstrates the known need across the country for a comprehensive insurance plan. When it came to how comfortable participants felt purchasing life insurance on their own, 25% of those surveyed said they would turn to an advisor for help making the decision. Forty percent of those surveyed answered that they didn’t know how insurance companies were determining prices and premiums, while 47% of those surveyed said they only “somewhat” understood how these choices were made by insurance companies.
IntelliQuote aims to take the confusion out of the insurance-buying process. The online resource provides consumers with access to an abundance of tools that make it simple to identify what type of insurance customers are searching for, and then to compare numerous life insurance options to best suit their needs and budget.
As Life Insurance Awareness Month continues throughout September, IntelliQuote celebrate this year’s theme, “Journey to Financial Fitness.” The theme reflects the necessity for a healthy financial portfolio in the lives of each American. Properly managing money and making important purchases, such as a comprehensive life insurance policy, is crucial to the overall wellness of the individual and their loved ones.
IntelliQuote is proud to celebrate Life Insurance Awareness Month and boasts a plethora of digital resources for users. With a comprehensive team of experienced life insurance agents and a sizable selection of policies from the nation’s best insurance carriers, IntelliQuote can help you find the insurance policy that’s right for your needs today. For more information, visit https://www.intelliquote.com.
Since 1997, IntelliQuote has offered a convenient way for consumers to compare, shop and save on insurance. IntelliQuote has remained dedicated to offering all the information needed for consumers to make an informed insurance purchasing decision. Learn more about the company, request a free online quote or view additional life insurance information at https://www.intelliquote.com.