Additionally, there have been technological advancements that have developed in the life insurance industry due to COVID-19. Many carriers are now moving towards a “fluid-less” underwriting process. This will prevent agents, and company affiliates, to avoid any unnecessary risk of exposure to COVID-19.

LIMRA (Life Insurance Marketing and Research Association) surveyed 47 U.S. life insurers to learn what changes they were making due to the COVID-19 pandemic and the federal/state social distancing guidelines (Article Here). Based on the survey results, the most common response was that there was no significant change in overall applications in March. That said, there was a shift in how consumers applied for life insurance. A third of companies reported a decline in face-to-face applications, while a quarter reported an increase in online applications in March. 24% of U.S. companies that accept online/mobile applications experienced an overall increase, while half saw no change at all.

It is important to partner with an FMO that will help guide you through these unprecedented times like Pinnacle Financial Services. We offer top-notch training with our national agent trainer and webinars, online quote and enrollment software, and exclusive lead programs that guarantee returns. Don’t delay and contact our team today!