The Wall Street Journal noticed an upward trend in the purchase of life insurance policies reflects a greater range of incomes are buying life insurance than ever before, and recognized Primerica’s strong first quarter production  in a May 26 article.

Primerica Representative Diana Macias, of Miami, provided industry insight. Macias noted how the pandemic is causing a shift in priorities for American families who didn’t have life insurance previously.  “Covid increased the awareness of the need for life insurance,” Macias said. “Families that before wouldn’t buy because of a tight budget now would. They made it more of a priority.”

The article cited LIMRA research indicating 2021’s first quarter revealed the biggest industry gain since 1983, and further explained that a decline in average death benefits combined with the increase in number of policies sold shows that more policies are being sold to households with smaller incomes – many under $100,000 in total annual income.

“It implies that we are reaching a larger percentage of the 102 million uninsured and underinsured Americans who believe they need coverage or need additional coverage,” David Levenson, LIMRA’s chief executive, said.

Read the full article.