The Crisis in Life Insurance-ii
The paper uses data derived from traditional life insurance industry sources to rebut agent association arguments against bank insurance sales. It presents the insurance industry?s concerns over the cost and inefficiencies of traditional agency distribution and proves that, in 1995, more than half of Americans lived in states or locations with broad bank insurance powers. The study demonstrates that consumers gain more access and choice when banks are permitted to sell insurance products to their customers. As relevant today as when published, the paper details the extensive need consumers have for life insurance, and the opportunities that banks have to meet those needs.