IntelliQuote Expects Increase in Life Insurance Sales with Forecasts of Healthy Economy

By Calvin Azuri
TMCnet Contributor

IntelliQuote is expecting a healthy increase in the sales of Life Insurance products during 2014 fostered by optimistic forecasts of a healthy economy in the New Year ahead. The company has planned many initiatives for the year ahead, as part of which, the consumers will be prompted to review their life insurance coverage every two or three years. IntelliQuote is also expected huge call volumes and requests for quotations in view of the growing optimism for economic growth.

With the new healthcare law in place, consumer sentiment has turned optimistic with 75 percent of the respondents in a recent Wall Street Journal and NBS (News - Alert) News survey saying they are optimistic about the economical growth in 2014. This is a sharp 10 percent increase against that in late October, when around 65 percent of the respondents expressed optimistic view towards economy.

In a release, Gary Lardy, President and Chief Executive Officer of IntelliQuote, said “It’s no coincidence that life insurance coverage and consumer confidence have both been at historic lows in recent years. The welcome news of renewed consumer optimism is leading many experts to forecast a rebound in the life insurance industry, a prediction which all of us at IntelliQuote are preparing for with great enthusiasm. As consumer confidence continues to rise, it is a natural progression for consumers to once again take initiative to protect their loved ones and we will be here to help them do so.”

Following the financial crisis in 2008, the life insurance sector has taken a major hit with the number of Americans buying a life insurance policy falling to a record low. In the data for 2012 released by LIMRA, the regulating authority for life insurance, around 30 percent of the American households did not carry a life insurance while only 15 percent of the households planned for additional life insurance. However, the industry is expecting a healthy year ahead amidst the industry forecasts hinting at growing consumer confidence in the economy, which will have a direct impact on the sales of life insurance products.

IntelliQuote is an online life insurance agency providing insurance plans from various insurance providers. The company offers a wide suite of insurance products from leading insurance providers with instant online quotations and is highly appreciated for its customer service. IntelliQuote has been one of the early organizations in the insurance space to have leveraged the advantages of social media to increase market penetration. With more than 10,000 Likes on Facebook (News - Alert), the company recently launched a Facebook App in a strategic move to fortify its presence in the social media and to offer services through innovative means to the end customers.