Skip to content

The Purchase Funnel Series

James T. Scanlon, M.S., HIA 7/16/2018

Insights from LIMRA's 2017 U.S. Individual Life Insurance Consumer Survey.

Summary

About The Purchase Funnel Series

Effective business development and distribution are crucial to a company’s financial health. LIMRA conducts the Individual Life Insurance Consumer Survey to help members better understand life insurance buyers and how to connect with them. The three reports focus on:

  • Tracking Consumers Through the Life Insurance Purchase Process — We report the traits of households that purchase life insurance and illustrate applied marketing tactics for connecting with life insurance buyers.

  • Who Buys What and Why — Learn the traits of households that buy life insurance and see which consumer segments are the right prospects for your product offerings.

  • How Buyers Buy — See which channels drive need recognition, aid serious shopping, provide quotes for evaluation, and propel purchases for different market segments — by consumer segments.

No part of any report may be reproduced or translated without written permission from LIMRA. Please contact Customer Service for further information.

Reports in the Series

The Purchase Funnel - Tracking Consumers Through the Life Insurance Purchase Process (2017)

Aug 30, 2017

This report illustrates the life insurance purchase process, and profiling characteristics that distinguish life insurance buyers.

Who Buys What and Why (The Purchase Funnel Series)

Nov 27, 2017

Discover the product types purchased by different consumer groups, and the reasons they buy coverage.

How Buyers Buy (The Purchase Funnel Series)

Jul 16, 2018

The analysis examines use of distribution methods and reveals how usage rates change across purchase stages and among different demographic segments.

About the Purchase Funnel

The Purchase Funnel – Video Summary

How many consumers think about buying individual life insurance?  How many of those consumers actually shop for coverage, get a quote, or purchase a policy?  Find out in less than 2 minutes!

 

Related Articles

From MarketFacts - LIMRA's flagship publication.

The Missing Link — Synchronicity

Jul 5, 2018

The life insurance industry offers a rich supply of solutions to meet the needs of a large and diverse consumer base.

Un-Sticking the Stuck Shopper: Overcoming Barriers to Purchasing Life Insurance

Apr 9, 2018

LIMRA’s 2017 Individual Life Insurance Consumer Survey (ILICS) identifies the stimuli that motivate consumers to shop for coverage, and the obstacles that prevent them from making the purchase.

Related Research

Consumer

Better understand consumers — and what they think and do throughout the customer journey.

Meet the Project Director

James T. Scanlon, M.S., HIA
Scanlon directs a team of LIMRA researchers focused on insurance product and service marketing. His program includes one-time topical studies, as well as recurring surveys that track consumer behaviors and ownership levels over time. Scanlon conducts projects with a focus on key consumer segments, including the middle market, affluent markets, and small-business owners. He holds an M.S. in resource economics from the University of Massachusetts, where he also earned a B. A. in economics.

Assistant Vice President, Insurance Research — Markets
LIMRA
jscanlon@limra.com


For more information, please contact jscanlon@limra.com.

You May Also Like...

Life Insurance Conference

This premier conference offers life insurance conference professionals the opportunity to network with peers and leading industry experts while participating in cross-functional learning.

Marketing Forum

This event focuses on areas critical to today’s marketers, including Digital Initiatives, Consumer Insights, Customer Experience, and overall Marketing Strategy.

LIMRA Annual Conference

The LIMRA Annual Conference is one of the largest gatherings of senior executives representing diverse sectors of the financial services industry.

Did you accomplish the goal of your visit to our site?

Yes No