IntelliQuote Educates Baby Boomers about the Rising Cost of Final Expenses as Forecasts Call for Continued Inflation
El Dorado Hills, CA (PRWEB) February 27, 2014 -- IntelliQuote, a widely respected online life insurance agency, is working to educate aging Americans, and their children, about the rising cost of final expenses and the subsequent importance of life insurance protection.
Founded in 1997, IntelliQuote has been a driving force in the online life insurance industry for nearly two decades. As one of the largest online agencies of its kind, IntelliQuote has helped thousands of consumers shop for and secure coverage. Known for offering unparalleled customer support and delivering instantaneous life insurance quote comparisons, IntelliQuote is the agency of choice for a growing number of consumers coast to coast.
The IntelliQuote leadership team has been committed to consumer advocacy since the agency’s infancy and education has been a core component of that commitment. Today, IntelliQuote leverages their online presence, through their Life Insurance Blog as well as their highly influential Facebook and Twitter profiles, to shed light on trending topics and share industry insights. Most recently, the IntelliQuote team has been working to educate baby boomers, and their aging parents, about the importance of purchasing final expense life insurance.
Statistics from the National Funeral Directors Association (NFDA) reveal that the average cost of an adult funeral in the United States is steadily increasing year over year. Families who lost a loved one in 2000 faced an average funeral cost of $5,180, a number which jumped to $7,045 by 2012. Industry experts are warning consumers that this trend is expected to continue year over year. As a direct result, consumer interest in final expense life insurance products has spiked in recent months as a growing number of baby boomers prepare for retirement.
“Though we have seen a marked increase in interest around these products, a large portion of the population remains unaware of the rising cost of funeral and burial expenses and the great need for final expense life insurance protection,” said Gary Lardy, President and CEO of IntelliQuote. “This is precisely why we are working to educate consumers about the value of these products.”
Available as permanent and universal life insurance policies, final expense coverage is designed to provide immediate compensation at the time of the insured’s death. From medical bills to funeral and burial costs, many families are unprepared financially at what can be a very difficult time. Those who choose to purchase final expense coverage are providing invaluable protection at a time when their loved ones will need it most. As more and more baby boomers reach retirement age, many are turning to life insurance professionals to plan for the future, not only for themselves but also for their aging parents. In fact, it’s not uncommon for adult children to take out and maintain final expense policies on their parents; a strategic approach which the advisors at IntelliQuote often encourage.
“These policies are relatively low in cost and provide a guaranteed benefit at a time when family members need it most. We simply hope that our efforts will protect survivors from unnecessary added financial stress.”
Since the leadership team at IntelliQuote identified the need to raise awareness about final expense coverage, they have published a series of blog articles on the subject, shared insights through their social media channels and spoken directly with consumers. The entire organization is pleased to report that this grassroots effort is proving effective. IntelliQuote advisors are experiencing a rise in consumer inquiries regarding final expense coverage and sales are continuing to climb. Because forecasts from the NFDA call for sustained inflation in the space, the IntelliQuote team plans to continue to focus consumer outreach efforts on the subject. Watch for more announcement in the coming months as IntelliQuote continues to place emphasis on this and other consumer advocacy campaigns.
ABOUT INTELLIQUOTE
Headquartered in El Dorado Hills, California, Intelliquote is a highly respected innovator in the online life insurance industry. Offering instant quotes, unrivaled customer service and access to the most competitive life insurance products on the market; IntelliQuote is the undisputed leader in the space. For more information, visit http://www.intelliquote.com or call 1-800-963-6405.
Gary Lardy, IntelliQuote, http://www.intelliquote.com, +1 206.414.7463, [email protected]
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