What is the Life Insurance Industry Like During this Pandemic?
A lot of people are being more cautious during this time when it comes to their coverage.
DULUTH, Minn. – Dylan Merriman owns a life insurance business in Duluth. He says a lot of people are being more cautious during this time when it comes to their coverage.
“People are calling a lot more, inquiring a lot more, they’re scared, people are scared, and I think that’s valid,” said Merriman. “We’ve seen a lot of uptick on just asking questions, costs, those kinds of things.”
New business for the company has taken a hit, as much as 20%. But existing business has stayed strong. Transactions, in general, are taking a bit more time than usual.
Dylan’s company gets many new customers from referrals, and during this uncertain time, clients are asking plenty of questions, looking for advice about being properly covered.
“Definitely that we are here for them,” said Merriman. “This too shall pass, I’m a firm believer in that. You know, do what you think is best and right for you.”
Just like many businesses, Dylan’s company is closed to the public right now. But depending on the situation, agents are still conducting needed appointments.