Stable prices in the life insurance market despite increasing COVID-19 cases
NEW YORK, September 15, 2021 / PRNewswire / – Policygenius, the unique insurance comparison and buying platform, today announced the release of September data from the Policygenius Life Insurance Price Index, which displays average monthly life insurance rates using current data from major life insurers. New data from this free index is released monthly to inform price trends for consumers. This month’s report not only honors Life Insurance Awareness Month, but also marks a year since the launch of the Policygenius Life Insurance Price Index.
The September index shows that there was no significant change in life insurance prices from August to September, despite a recent resurgence of COVID-19 cases and hospitalizations across the country in because of the Delta variant. While a new report According to forecasts by Social Security and Medicare administrators that death rates across the country will be up to 15% higher than usual until 2023, the price stability of life insurance continues to be an ongoing trend.
“During Life Insurance Awareness Month, and each month, we are proud to provide educational resources on life insurance, including pricing trends,” Jennifer fitzgerald, CEO and co-founder of Policygenius, said. “Our work to educate consumers seems especially important today given the toll the pandemic has taken on so many families.”
Insurance rates can vary based on market fluctuations, as well as when a buyer’s personal profile changes. Life insurance prices are primarily based on life expectancy, taking into account an individual’s personal details including age, medical history and hobbies. Prices also depend on the length of a policy and the amount of coverage a consumer chooses to obtain.
The prices included in the Policygenius Life Insurance Price Index are based on internal actuarial rate tables for 11 of the life insurance companies that offer policies in the Policygenius marketplace. Prices represent the average monthly premium for each customer profile sample (age, sex) and policy type (duration, amount of coverage) as of the most recent publication date.
Political genius transforms the insurance journey of today’s consumer, providing a single platform where clients can compare options from top insurers, get unbiased expert advice, purchase policies and manage their insurance portfolio , in an integrated and transparent experience. Our proprietary technology platform integrates with leading life, disability, home and auto insurance companies and delivers an exceptional digital experience for consumers and insurance companies. Since 2014, our content, digital tools and experts have served as a resource for millions of people in their insurance journey, and we have sold over $ 120 billion In front page.
To receive Policygenius announcements, send an email [email protected]. Subscribe to the Easy Money by Policygenius newsletter here.
For more information:
Associate Director of Media Relations
 Monthly averages are based on 11 products available through Policygenius for the specified profile; prices for these products may vary from state to state, and not all products are available in all states. Individual rates may vary based on age, gender, condition, health profile, and other eligibility criteria.
View original content to download multimedia: https://www.prnewswire.com/news-releases/policygenius-releases-september-2021-life-insurance-price-index-301376676.html