Study: More Buyers Seek Life Coverage BestWeek (02/11/02) Vol. 6, No. 5 p.13; Hillman, John
According to a recent study by Conning & Co., applications and sales for life insurance products--mainly fixed life products--have been on the rise. The study revealed that since Sept. 11, insurers that had typically used two or three reinsurers are considering using as many as 12 reinsurers in order to further spread risk, prompting a possible life reinsurance capacity shortage next year, said George McKeon, assistant vice president at Conning and editor of the study. He added that before the terrorist attacks, consumers bought life insurance mainly as a means of tax avoidance, but now they are buying for mortality risk reasons as well.