Watch Out for These Life Insurance Trends in 2018

Watch Out for These Life Insurance Trends in 2018

Here are some of the life insurance trends you should expect to see this year.

While most Americans recognize that life insurance is an essential type of coverage to have, many do not have a policy, claiming that it is too expensive and time consuming to get one.  However, the life insurance game is changing as we speak.  Here are some of the 2018 trends that will make life insurance a little more accessible.

Internet Access

Back in the day, getting life insurance required a series of face-to-face meetings with an insurance salesman.  However, the introduction of the internet changed the industry completely.  In 2018, you should expect to see more and more life insurance providers leveraging the internet to offer an easier, more streamlined way for their customers to get the life insurance coverage they need.

Automated Underwritings

One of the biggest complaints that people have with life insurance is that the underwriting process is too drawn out and complicated.  However, new automation tools are completely changing how underwriting works.  This new technology allows insurers to track their customer’s changing needs without having to speak with them directly.  Additionally, the new technologies allow insurance companies to do more than simply calculate risks and determine a suitable premium.  They can now offer opportunities to help their clients predict and mitigate potential risks.

Easier Access

Finally, you should expect to see new mobile applications and customer-friendly websites that make it easier than ever to get into contact with your life insurance provider.  New technology will allow customers to access their policy and get answers to their questions with a few strokes of the keyboard.  Not only will this trend lead to more informed customers, but it will also allow insurance providers to offer their clients the service they deserve.

These are some of the trends you should expect to see in the life insurance industry.  Do you have questions regarding your life insurance coverage?  Then contact the professionals at Lloyd S. Berkett Insurance Agency in Los Angeles to secure the right life insurance for your needs and budget.

11150 W. Olympic Blvd.
Suite 1100
Los Angeles, CA 90064

(310) 857-5757
(800) BERKETT | 237-5388
Fax: (310) 857-5750

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