U.S. Life Insurance Sales Rise on Covid-19 Fears

Americans went on a buying spree for life insurance in 2021, driven by concerns of death from the continuing coronavirus pandemic. Premium volume for new individual life-insurance policies surged 20% compared with 2020, while the number of policies issued rose 5%, the biggest year-over-year percentage gains since the 1980s, according to industry-funded research firm Limra. “As we zero in on one million Americans who tragically lost their lives, it’s not a surprise that people are thinking about their own mortality and the impact on loved ones if anything were to happen to them,” said David Levenson, Limra’s chief executive.