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bort_saver · 10-31-2007, 06:35 PM

Are people more afraid and purchase more insurance or less? Does it make them delay purchasing insurance? Life and Health insurance specifically. More specifically senior medical supplement policies, advantage plans, life insurance, long term care insurance, and annuities. I'm asking for myself. Is it a good time economically in the U.S. today to sell these products? General or specific information will be helpful. Thank you for your experience and thoughts.<br />

realtime · 10-31-2007, 06:35 PM

recession, businesses are closing, jobs are being lost. joe looks around and says dam, lose my job i might lose my house... hmm, better look into "Redundancy Insurance:" during a recession 'Income Protection Plans' or 'Payment Protection Plans.' usually see increased sales.

look: http://www.bls.gov/oco/ocos118.htm

goodMOnk · 10-31-2007, 06:35 PM

Usually those who purchase insurance by choice, whether it be personal or business are better educated and consequently better off financially. Hence, a downturn in the economy doesn't have the impact on the insurance industry as those who live paycheck to paycheck who aren't buying insurance on their own anyway.

goodMOnk · 10-31-2007, 06:35 PM

"People are buying insurance products regardless of economic conditions.The insurance industry and large-cap consumer staples companies also tend to pay meaningful dividends -- and steadily raise them -- enhancing their overall quality and appeal. Dividend income is always welcomed by consumers, especially so in choppy markets when you're effectively paid to wait until the turmoil subsides.To answer your question if is a good time to sell in U.S.i say it is! not only in U.S. but also in Europe.

deli08 · 10-31-2007, 06:35 PM

unfortunately, in the u.s. today, any type of insurance has become more of a luxury than a necessity. therefore like any other luxury during hard economic times, demand for insurance will drop as incomes also decline and job insecurity increases. also it doesn't help that all sorts of insurance premiuims keep on increasing at a higher rate than that of inflation.

10-31-2007, 06:35 PM	#1
bort_saver Greenhorn Join Date: Jul 2006 Posts: 26 Rep Power: 5	What typically happens to the insurance industry during a period of economic recession? Are people more afraid and purchase more insurance or less? Does it make them delay purchasing insurance? Life and Health insurance specifically. More specifically senior medical supplement policies, advantage plans, life insurance, long term care insurance, and annuities. I'm asking for myself. Is it a good time economically in the U.S. today to sell these products? General or specific information will be helpful. Thank you for your experience and thoughts.<br />

10-31-2007, 06:35 PM	#2
realtime Greenhorn Join Date: Jul 2006 Posts: 27 Rep Power: 5	What typically happens to the insurance industry during a period of economic recession? recession, businesses are closing, jobs are being lost. joe looks around and says dam, lose my job i might lose my house... hmm, better look into "Redundancy Insurance:" during a recession 'Income Protection Plans' or 'Payment Protection Plans.' usually see increased sales. look: http://www.bls.gov/oco/ocos118.htm

10-31-2007, 06:35 PM	#3
goodMOnk Greenhorn Join Date: Jul 2006 Posts: 18 Rep Power: 0	What typically happens to the insurance industry during a period of economic recession? Usually those who purchase insurance by choice, whether it be personal or business are better educated and consequently better off financially. Hence, a downturn in the economy doesn't have the impact on the insurance industry as those who live paycheck to paycheck who aren't buying insurance on their own anyway.

10-31-2007, 06:35 PM	#4
goodMOnk Greenhorn Join Date: Jul 2006 Posts: 18 Rep Power: 0	What typically happens to the insurance industry during a period of economic recession? "People are buying insurance products regardless of economic conditions.The insurance industry and large-cap consumer staples companies also tend to pay meaningful dividends -- and steadily raise them -- enhancing their overall quality and appeal. Dividend income is always welcomed by consumers, especially so in choppy markets when you're effectively paid to wait until the turmoil subsides.To answer your question if is a good time to sell in U.S.i say it is! not only in U.S. but also in Europe.

10-31-2007, 06:35 PM	#5
deli08 Piggy Bank Join Date: Jul 2006 Posts: 51 Rep Power: 5	What typically happens to the insurance industry during a period of economic recession? unfortunately, in the u.s. today, any type of insurance has become more of a luxury than a necessity. therefore like any other luxury during hard economic times, demand for insurance will drop as incomes also decline and job insecurity increases. also it doesn't help that all sorts of insurance premiuims keep on increasing at a higher rate than that of inflation.

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