In addition to providing great financial solutions for millions of Canadians, Insurdinary is now taking even more steps to further educate our customer base and loyal readers. We are doing this by collecting real life data, from people just like you. There’s no better way to understand the market than to simply ask the question, and that’s exactly why we have and will continue to hit the streets of major Canadian cities to conduct polls.
Our mission is to gather your thoughts, your opinions and your feedback on a variety of important subjects in order to provide a more comprehensive service to you and your families.
On June 21, 2022, Insurdinary’s research staff set out to chat with 50 people on the subject of whether or not the COVID-19 pandemic changed their opinion on life insurance. The results were surprising.
The Surprising Results
When asked “Has the COVID-19 pandemic changed your opinion on life insurance?”, a surprising 90% of people said no.
Of the folks that were spoken to:
32 were males, of which 28 said that their opinion on life insurance has not changed, and for 4 of them, it did
18 were females, of which 16 of them said that their opinion on life insurance has not changed, and for two of them, it did
23 of those people were 18-29 years of age
5 of those people were 30-55 years of age
22 of those people were 55+
Many of those 50 people had some interesting feedback to provide as to why they answered yes, or in this case mostly no.
Some of reasons that people’s opinion of life insurance during the pandemic didn’t change was:
They never even thought about life insurance to begin with
They are happy with their existing policy, no changes necessary
They think they are too young for life insurance
Not scared to die from COVID-19, typically because they are confident with being vaccinated
Having kids was more of a reason to get life insurance, not a pandemic
Feeling like they are too old to get a life insurance policy
Some of the reasons that people’s opinions of life insurance during the pandemic did change was:
They saw COVID-19 negatively impact someone they love
Even though they aren’t considering purchasing life insurance, they think it’s necessary for elderly people during the COVID-19 pandemic
During a time of uncertainty, it’s necessary to protect your assets
COVID-19 can aggravate pre-existing conditions and therefore one must take the right steps to protect their families
Perhaps if we had conducted this study in 2021, the answers may have skewed a little more to the yes side. But in the summer of 2022, Canadians from the city of Toronto were pretty steadfast in their confidence - which is great.
Have You Been Considering Purchasing Life Insurance?
What about you? Do you have questions about life insurance? Has it been a topic mulling around in your mind recently? If so, we can help provide the answers.
Not sure how much life insurance you would need? Check out our online quoter which includes a self, financial assessment. It’s transparent, it’s accurate, and it’s extremely easy to use.
Prefer to speak to a professional? We can do that too. Our experienced customer service representative and affiliate licensed agents are experts in the field of all things insurance and financial products, and they would be happy to assist you. 1 877 574 (RISK) 7475