Here is the third phase of The Insurance Bellwether’s 30-Day Project. The Project is done as part of Life Insurance Awareness Month. The idea is to ask the average Joe and Jane three questions about insurance to get a sense of what people and not insurance people first think about insurance.
The three questions in the order they are asked are:
--What is the first thing that comes to mind when you think about life insurance?
--What is the best thing about life insurance?
--What is the worst thing about life insurance?
Here are the responses from the latest group of folks polled by The Bellwether.
Retiree—"I worked for one for 40 years, so I guess being employed. I received 2x my salary from work and 1x when I retired, so I guess that’s what I’m worth from that. It’s all changed. When I started your agent visited you and collected premiums or my neighbors would ask me to bring in their premiums to work. That has all been lost. Now it is all done by computer and there are so many different kinds of insurance."
Real estate broker—"It’s a waste. Nothing. The worst thing is fighting among members when a person dies. When my father died, there were arguments among my brothers and sisters."
Administrator in Public Schools—What is it? Why do I need it? I’m single and have other property.
Seminarian—Death, the protection it provides your family, the expense.
Public School Teacher—"Buying a policy from an agent who had sold one to my parents.
When I wanted to cash out of the policy 5 years later, he argued against it until I insisted and threatened to speak to his supervisor. The best thing about it is the protection that it offers. The worst part is that there should be a better way to offer protection to people than having to purchase insurance."
Hot Dog Stand Owner—“We don’t know about insurance. Our family takes care of us if we need.”
Retail Clerk—The first thing is that it reminds me of my father’s death. The best thing about it is that it can provide a useful way to meet expenses if there is a death. “The worst thing is for someone my age [20s] to pay premiums. It’s just ridiculous. It doesn’t seem to make sense.”
Administrator in a local college—The first thing is the premiums you have to pay without any benefit to you. The best thing is the protection it can offer to relatives. The worst thing is paying premiums with no benefit. “I have had many types of insurance running from term to whole life. Many people just get coverage where they work.”
Sunday, September 20, 2009
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