AgileLifeInsurance.Com, an HIIQ Company, Announces Results of First Life Insurance Consumer Survey
September 10 2019 - 9:00AM
www.AgileLifeInsurance.com, a new online marketplace where
consumers can easily compare and purchase an array of affordable
life insurance products, today (during Life Insurance Awareness
Month) released results of the marketplace’s first survey.
Accompanying survey result graphics are available at the following
link. Survey data included:
- Nearly two thirds of survey participants,
64.45% of 512 respondents, owned a life insurance
policy.
- The vast majority of survey participants, 77%,
responded that they believed having life insurance is
important.
- A subgroup of 180 survey participants, when asked why they did
not own a life insurance policy, responded that either they could
not afford it (43%) or they had not thought about
it (38%.)
- 365 survey participants are currently covered by life insurance
policies. Coverage amount for individuals varied –
30.4% had less than $49,999 in total coverage,
35.9% had total life insurance coverage ranging
between $50,000 to $149,999, and 18.9% had total
life insurance coverage ranging between $150,000 to $349,999.
On the high end, 5.2% of survey participants has
total life insurance coverage that was greater than $1,000,000
Jan Dubauskas, Vice President and Senior Counsel of Health
Insurance Innovations Inc., (AgileLifeInsurance.com is part of the
Health Insurance Innovations family of companies) stated, “One of
the most interesting findings of our survey was that on average
participants would be willing to spend $56 monthly to ensure their
family was well taken care of if they were to die.”
The range suggested was $0-$100 monthly, and on average,
respondents selected an amount which was just past the central
point of suggested market limits. Generally, survey results that
indicate a large grouping around the middle or central range often
imply additional information is needed for a decision to be more
impactful either to the left or right of the central point.
Ms. Dubauskas concluded, “Looking at the survey data, we came to
the collective belief that consumers are ready for a marketplace
like AgileLifeInsurance.com, where they can learn about life
insurance products and have their questions answered. Purchasing
life insurance is never an easy decision, but we believe consumers
should have as much information as possible so they can acquire an
appropriate and affordable life insurance plan.” Ms.
Dubauskas added, “Also telling was 38% of respondents who simply
had not thought about life insurance products. Life insurance is a
critical component of many people’s overall portfolio, and we
realize from our survey results, consumers need additional
awareness and education not only for themselves but for their loved
ones, dependents and descendants.”
Agilelifeinsurance.com will offer term life insurance policies
as well as accidental death and dismemberment policies with rates
beginning as low as $29.00 per month. The guaranteed issue term
life and accidental death & dismemberment benefits will be
available in the following states: AL, AZ, CA, CO, CT, DC, DE, GA,
HI, ID, IL, IN, IA, KY, LA, MS, NV, NH, NJ, NM, ND, OK, OR, PA, RI,
SC, TN, TX, VT, WV, WI, WY.
METHODOLOGY:
The results above were gathered through an online poll of 500
people who are the head of a household and between the ages of
18-64. The poll was conducted on August 22-23 and was weighted to
get representative samples from each state based on population.
FORWARD LOOKING STATEMENTS:
AgileLifeInsurance.com, part of the Health Insurance
Innovations, Inc. family companies (NASDAQ: HIIQ). This press
release contains "forward-looking statements" within the meaning of
the U.S. Private Securities Litigation Reform Act of 1995.
Forward-looking statements are statements other than historical
fact, and may include statements relating to goals, plans and
projections regarding new markets, products, services, growth
strategies, anticipated trends in our business and anticipated
changes and developments in the United States health insurance
system and laws. Forward-looking statements are based on our
current assumptions, expectations and beliefs are generally
identifiable by use of words "may," "might," "will," "should,"
"expects," "plans," "anticipates," "believes," "estimates,"
"predicts," "potential" or "continue," or similar expressions and
involve significant risks and uncertainties that could cause actual
results, developments and business decisions to differ materially
from those contemplated by these statements. These risks and
uncertainties include, among other things, our ability to maintain
relationships and develop new relationships with health insurance
carriers and distributors, our ability to retain our members, the
demand for our products, the amount of commissions paid to us or
changes in health insurance plan pricing practices, our ability to
integrate our acquisitions, competition, changes and developments
in the United States health insurance system and laws, and our
ability to adapt to them, the ability to maintain and enhance our
name recognition, difficulties arising from acquisitions or other
strategic transactions, and our ability to build the necessary
infrastructure and processes to maintain effective controls over
financial reporting. These and other risk factors that could cause
actual results to differ materially from those expressed or implied
in our forward-looking statements are discussed in HIIQ's most
recent Annual Report on Form 10-K filed with the Securities and
Exchange Commission (SEC) as well as other documents that may be
filed by HIIQ from time to time with the Securities and Exchange
Commission, which are available at www.sec.gov. Any forward-looking
statement made by us in this press release is based only on
information currently available to us and speaks only as of the
date on which it is made. You should not rely on any
forward-looking statement as representing our views in the future.
We undertake no obligation to publicly update any forward-looking
statement, whether written or oral, that may be made from time to
time, whether as a result of new information, future developments
or otherwise.
Investor Contact: |
|
Westwicke |
|
Bob East |
|
Jordan Kohnstam |
|
Asher Dewhurst |
|
(443) 213-0500 |
|
hiiq@westwicke.com |
Media Contact: |
|
Westwicke PR |
|
James Heins |
|
(203) 682-8251 |
|
james.heins@icrinc.com |
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