Trade Associations
News releases, reports, statements and associated documents from national and international trade associations influencing the debate on federal policies.
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Share of Mortgage Loans in Forbearance Decreases to 4.66 Percent
WASHINGTON, April 13 (TNSOps) -- The Mortgage Bankers Association issued the following news release:
The Mortgage Bankers Association's (MBA) latest Forbearance and Call Volume Survey revealed that the total number of loans now in forbearance decreased by 24 basis points from 4.90% of servicers' portfolio volume in the prior week to 4.66% as of April 4, 2021. According to MBA's estimate, 2.3 million homeowners are in forbearance plans.
The share of Fannie Mae and Freddie Mac loans in forbearance decreased to 2.52% - a 20-basis-point improvement. Ginnie Mae loans in forbearance decreased 45 basis
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WASHINGTON, April 13 (TNSOps) -- The Mortgage Bankers Association issued the following news release:
The Mortgage Bankers Association's (MBA) latest Forbearance and Call Volume Survey revealed that the total number of loans now in forbearance decreased by 24 basis points from 4.90% of servicers' portfolio volume in the prior week to 4.66% as of April 4, 2021. According to MBA's estimate, 2.3 million homeowners are in forbearance plans.
The share of Fannie Mae and Freddie Mac loans in forbearance decreased to 2.52% - a 20-basis-point improvement. Ginnie Mae loans in forbearance decreased 45 basispoints to 6.33%, while the forbearance share for portfolio loans and private-label securities (PLS) decreased by 15 basis points to 8.65%. The percentage of loans in forbearance for independent mortgage bank (IMB) servicers decreased 29 basis points to 4.89%, and the percentage of loans in forbearance for depository servicers declined 23 basis points to 4.80%.
"The share of loans in forbearance decreased for the sixth straight week, dropping by 24 basis points - one of the largest decreases in the history of the series. The forbearance share also decreased significantly for all three investor categories, with the rate for Ginnie Mae loans down an impressive 45 basis points. Overall, forbearance exits increased to their fastest pace since early November," said Mike Fratantoni, MBA's Senior Vice President and Chief Economist. "Almost 32 percent of borrowers in forbearance extensions have now exceeded the 12-month mark. In terms of performance, more than 88% of homeowners who have exited into deferral plans, modifications, or repayment plans were current on their loans at the end of March, compared to 92% of all homeowners."
Fratantoni added, "The accelerating economic recovery in March helped more homeowners recover and become current on their mortgages, in addition to helping other homeowners with more stable financial situations exit forbearance. Homeowners who are still facing hardships and need to extend their forbearance term should contact their servicers."
Key findings of MBA's Forbearance and Call Volume Survey - March 29 to April 4, 2021
Total loans in forbearance decreased by 24 basis points relative to the prior week: from 4.90% to 4.66%.
* By investor type, the share of Ginnie Mae loans in forbearance decreased relative to the prior week: from 6.78% to 6.33%.
* The share of Fannie Mae and Freddie Mac loans in forbearance decreased relative to the prior week: from 2.72% to 2.52%.
* The share of other loans (e.g., portfolio and PLS loans) in forbearance decreased relative to the prior week: from 8.80% to 8.65%.
By stage, 13.2% of total loans in forbearance are in the initial forbearance plan stage, while 82.0% are in a forbearance extension. The remaining 4.8% are forbearance re-entries.
Total weekly forbearance requests as a percent of servicing portfolio volume (#) increased relative to the prior week: from 0.04% to 0.05%.
Of the cumulative forbearance exits for the period from June 1, 2020, through April 4, 2021:
* 26.4% resulted in a loan deferral/partial claim.
* 26.0% represented borrowers who continued to make their monthly payments during their forbearance period.
* 14.5% resulted in reinstatements, in which past-due amounts are paid back when exiting forbearance.
* 14.4% represented borrowers who did not make all of their monthly payments and exited forbearance without a loss mitigation plan in place yet.
* 9.5% resulted in a loan modification or trial loan modification.
* 7.5% resulted in loans paid off through either a refinance or by selling the home.
* The remaining 1.7% resulted in repayment plans, short sales, deed-in-lieus or other reasons.
Weekly servicer call center volume:
* As a percent of servicing portfolio volume (#), calls increased from the previous week from 8.1% to 8.5%.
* Average speed to answer increased from 1.7 minutes to 1.8 minutes.
* Abandonment rates increased from 4.1% to 4.9%.
* Average call length increased from 7.9 minutes to 8.0 minutes.
Loans in forbearance as a share of servicing portfolio volume (#) as of April 4, 2021:
* Total: 4.66% (previous week: 4.90%)
* IMBs: 4.89% (previous week: 5.18%)
* Depositories: 4.80% (previous week: 5.03%)
[Category: Financial Services]
New ADvancing States IQ Course: Benefits Outreach and Enrollment for Older Adults and Persons With Disabilities - the Role of State and Local Organizations
ARLINGTON, Virginia, April 13 (TNSOps) -- ADvancing States (formerly the National Association of State Units on Aging) issued the following news release:
A new course is now available on ADvancing States IQ on the role of state and local practices in benefits outreach and enrollment for older adults and individuals with disabilities. This course provides the opportunity for participants to learn about core benefit programs and challenges to accessing benefits.
This course also describes sources of information trusted by older adults and persons with disabilities and identifies effective outreach
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ARLINGTON, Virginia, April 13 (TNSOps) -- ADvancing States (formerly the National Association of State Units on Aging) issued the following news release:
A new course is now available on ADvancing States IQ on the role of state and local practices in benefits outreach and enrollment for older adults and individuals with disabilities. This course provides the opportunity for participants to learn about core benefit programs and challenges to accessing benefits.
This course also describes sources of information trusted by older adults and persons with disabilities and identifies effective outreachstrategies using those information channels. Additionally, participants will learn about state and local practices for ensuring individuals are connected to potential benefits, as well as opportunities to adjust benefits outreach and enrollment during crises and emergencies.
This course was developed with support from the National Council on Aging (NCOA) under a grant from the U.S. Administration for Community Living (ACL).
This course is free and available to all users on ADvancing States IQ. To access the course, log in to ADvancing States IQ and search for the course Benefits Outreach and Enrollment for Older Adults and Persons with Disabilities: The Role of State and Local Organizations.
[Category: Disabilities]
National Basketball Players Association Foundation Provides Nearly $200,000 in Matching Player Grants
NEW YORK, April 13 (TNSMon) -- The National Basketball Players Association issued the following news release:
The National Basketball Players Association (NBPA) Foundation is pleased to announce nearly $200,000 in matching player grants in March 2021. Last month, the NBPA Foundation partnered with 13 current and former players to match their charitable giving and philanthropy in their communities. The majority of these grants will go towards covering operational expenses for youth sports programming.
"Youth sports more than ever need our support to ensure a safe return to play. Our players are
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NEW YORK, April 13 (TNSMon) -- The National Basketball Players Association issued the following news release:
The National Basketball Players Association (NBPA) Foundation is pleased to announce nearly $200,000 in matching player grants in March 2021. Last month, the NBPA Foundation partnered with 13 current and former players to match their charitable giving and philanthropy in their communities. The majority of these grants will go towards covering operational expenses for youth sports programming.
"Youth sports more than ever need our support to ensure a safe return to play. Our players areat the forefront of finding safe and creative solutions to bringing these much needed resources back to our communities." - Sherrie Deans, Executive Director of the NBPA Foundation
The NBPA Foundation provided matching grants to the following players:
Calvin Murphy: Grants will be used to support the Texas Youth Academy Houston and its basketball program to purchase computers and tablets for youth without access to technology for virtual learning and PPE equipment for a safe return to play.
Organization: Texas Youth Academy Houston
Dewayne Dedmon: Grants will be used to support the Prime Youth Program, a youth basketball program based in Detroit, Michigan. It will help provide program participants with Wifi access, meals during after school programs and cleaning equipment to adhere to local public health guidelines.
Organization: Prime Youth Program
Joe Harris: Grants will be used to help launch Joe Harris' newly launched nonprofit in Chelan Valley, Washington. The funds will support the nonprofit's summer basketball camp including purchasing uniforms, equipment and PPE to safely return to play based on local public health guidelines.
Organization: Joe Harris Basketball
Josh Hart: Grants will be used to support Team Takeover by covering registration fees and operating expenses related to safely returning to play as well as expanding academic services.
Organization: Team Takeover
Jusuf Nurkic: Grants will be used to build a basketball court in Portland, Oregon to provide a space to play as well as to host future youth programming.
Organization: Jusuf Nurkic Foundation
Kendrick Nunn: Grants will provide support to the Dovetail Project, a nonprofit focused on providing comprehensive support services to single fathers in Chicago.
Organization: The Dovetail Project
Kyle Anderson: Grants will be used to support Kyle Anderson in launching his new AAU team in New Jersey.
Organization: Team Slo Mo
Michael Carter-Williams: Grants will be used to provide general operating support to Michael Carter-Williams' AAU team and cover travel costs, equipment and materials to safely resume play in the spring.
Organization: MCW Starz
Mike Muscala: Grants will be used to support Peace Players International's safe return to in-person play while also keeping virtual components to foster more connections across different cities.
Organization: Peace Players International
Myles Turner: Grants will be used to support on-going disaster relief efforts in Dallas, Texas following the winter storms in late February 2021.
Organizations: National Multicultural Western Heritage Museum, Dwell with Dignity and Empowering the Masses
Tarik Black: Grants will be used to support the Tarik Black Foundation and its after school programs in Memphis, Tennessee as well as its international virtual entrepreneurship program.
Organization: Tarik Black Foundation
Tim Thomas: Grants will be used to support Tim Thomas in expanding a basketball program at Pioneer Academy in Wayne, New Jersey.
Organization: Pioneer Academy
Victor Oladipo: Grants will be used to support Team Takeover by covering registration fees and operating expenses related to safely returning to play as well as expanding academic services.
Organization: Team Takeover
[Category: Sports]
National Association of Clinical Nurse Specialists Releases Census Results
PHILADELPHIA, Pennsylvania, April 13 (TNSRes) -- The National Association of Clinical Nurse Specialists issued the following news release on April 12, 2021:
There is a trend showing a pivoting of clinical nurse specialists toward a further expansion of practice areas according to the results of The National Association of Clinical Nurse Specialists (NACNS) 2020 Census of the CNS profession released today.
An infographic based on the census data called "The Role of the CNS: Findings from the 2020 Census" shows a resurgence of the profession with CNSs working in a wide variety of practices including
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PHILADELPHIA, Pennsylvania, April 13 (TNSRes) -- The National Association of Clinical Nurse Specialists issued the following news release on April 12, 2021:
There is a trend showing a pivoting of clinical nurse specialists toward a further expansion of practice areas according to the results of The National Association of Clinical Nurse Specialists (NACNS) 2020 Census of the CNS profession released today.
An infographic based on the census data called "The Role of the CNS: Findings from the 2020 Census" shows a resurgence of the profession with CNSs working in a wide variety of practices includingadult health/gerontology acute care or ambulatory care settings as well as growing practices in family, mental and women's health. The NACNS 2020 census was sponsored by AACN Certification Corporation and Cardinal Health.
NACNS is the national organization for the 89,000 Clinical Nurse Specialists in the United States (CNS) and dedicated to advancing the practice and education of CNSs. An infographic of 2020 census results is available here (https://nacns.org/professional-resources/practice-and-cns-role/cns-census/).
"The data demonstrates that CNSs' roles and responsibilities are broadening and becoming more robust," said Lola Coke, PhD, ACNS-BC, FAHA, FPCNA, FNAP, FAAN, Census 2020 project lead and associate professor and clinical nurse specialist, acting dean, Kirkhof College of Nursing, Grand Valley State University. "The trend is a pivoting to an expanding CNS practice beyond adult health/gerontology and pediatrics to areas such as family health, psychiatric /mental health, women's health /gender specific and neonatal. CNSs' responsibilities continue to range from providing direct care, managing care, leading research to nurse/patient/family education in the hospital or health system setting."
NACNS surveys CNSs every other year collecting demographic and professional data. Almost 3,000 CNSs responded to the 2020 survey. CNSs are advanced practice registered nurses who have graduate preparation (Master's or Doctorate) in nursing. Like other advanced practice registered nurses, they are trained in physiology, pharmacology and physical assessment in addition to their particular specialty areas.
What's The Typical CNS?
According to the 2020 census, one of the 89,000 CNSs that work in the United States typically could, on average, have the following attributes:
* Works in adult health/gerontology or pediatrics
* Involved in direct patient care, education and/or research
* Works fulltime in hospitals and/or health system-wide
* $100,000 year salary
* Master's of Science in Nursing or Doctor of Nursing Practice degree
* Over 80% white and female
[Category: Nursing]
Institute of Internal Auditors Signs MOU With Vietnam's Ministry of Finance
LAKE MARY, Florida, April 13 (TNSOps) -- The Institute of Internal Auditors issued the following news release:
The Institute of Internal Auditors (IIA), the internal audit profession's widely recognized advocate, educator, and provider of standards, guidance, and certifications, has signed a Memorandum of Understanding (MOU) with the Vietnam Ministry of Finance (MOF) Accounting and Auditing Supervisory Department for cooperation and collaboration in establishing and advancing the internal audit profession in Vietnam.
The IIA is the only global association for professional internal auditors. With
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LAKE MARY, Florida, April 13 (TNSOps) -- The Institute of Internal Auditors issued the following news release:
The Institute of Internal Auditors (IIA), the internal audit profession's widely recognized advocate, educator, and provider of standards, guidance, and certifications, has signed a Memorandum of Understanding (MOU) with the Vietnam Ministry of Finance (MOF) Accounting and Auditing Supervisory Department for cooperation and collaboration in establishing and advancing the internal audit profession in Vietnam.
The IIA is the only global association for professional internal auditors. With200,000 members in nearly 200 countries and territories, The IIA is well-positioned to support governments around the world in advancing corporate governance and risk management in their countries through effective internal audit.
In 2018, The IIA formed the IIA-Vietnam Network to support the profession by organizing a wide range of services dedicated to the education and advancement of internal auditors. On April 1, 2019, the Vietnam Ministry of Finance issued an Internal Audit Decree, which provides a legal framework for the establishment and implementation of internal audit under globally accepted standards as expressed by The IIA's International Standards for the Professional Practice of Internal Auditing.
"We are delighted to mark this historic occasion, which represents a significant collaboration with Vietnam's government toward defining the crucial role of internal audit in the public and private sector of this important country," said Anthony Pugliese, President and Chief Executive Officer of The IIA. "This effort will foster transparency and effectiveness in corporate governance. Both our organizations share the common goal of establishing a strong internal audit profession, and we look forward to partnering on this imperative."
Among key benefits, internal auditors in Vietnam will have the ability to:
* Gain access to The IIA's global Standards, guidance, resources, and tools
* Participate in training programs across career levels
* Gain access to global internal audit certifications, such as the premier Certified Internal Auditor (CIA), as well as the Internal Audit Practitioner program
* Collaborate with local partners in developing and delivering training for internal auditors in the public and private sectors
"Together, we will continue to work toward our mutual goal to raise the profile of internal audit in Vietnam, strengthen stakeholders' understanding of the value that internal audit brings to organizations, and advance the profession in Vietnam and globally," Pugliese said.
[Category: Accounting]
ACCA and Institute of Management Accountants Reports Largest Increase in Economic Confidence in the History of Its Global Economy
NEW YORK, April 13 (TNSRes) -- The Institute of Management Accountants issued the following joint news release with Association of Chartered Certified Accountants:
A new Global Economic Conditions Survey (GECS) of 2021 Q1 by ACCA (the Association of Chartered Certified Accountants) and IMA(R) (Institute of Management Accountants) found the largest jump in global confidence in the last decade, with the most positive results in North America.
The GECS, the largest regular economic survey of more than 1,000 senior accountants and finance professionals from around the world, has consistently captured
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NEW YORK, April 13 (TNSRes) -- The Institute of Management Accountants issued the following joint news release with Association of Chartered Certified Accountants:
A new Global Economic Conditions Survey (GECS) of 2021 Q1 by ACCA (the Association of Chartered Certified Accountants) and IMA(R) (Institute of Management Accountants) found the largest jump in global confidence in the last decade, with the most positive results in North America.
The GECS, the largest regular economic survey of more than 1,000 senior accountants and finance professionals from around the world, has consistently capturedthe true scale of the global recession caused by the coronavirus pandemic, tracking the drop in confidence since the beginning and a new outlook in confidence triggered by the combined effects of vaccines and the fiscal stimulus.
You can read the full report here: https://www.imanet.org/insights-and-trends/global-economic-conditions-survey.
This GECS has recorded the biggest jump in global confidence since the survey began 10 years ago. Between the 2020 Q4 survey conducted last December and the 2021 Q1 survey in March, there has been a significant improvement.
The authors note that the regulatory approval of several highly effective vaccines against COVID-19 and the subsequent introduction of vaccination plans in many countries has put a permanent solution to the health crisis within reach. Activity indicators covering orders, capital spending and employment all increased to some degree in the first quarter of this year - closely mirroring the level of confidence in the last quarter of 2019 before the pandemic struck.
"Having suffered the biggest recession for several decades in 2020, the global economy is on course for a relatively quick rebound," said Michael Taylor, Chief Economist at ACCA. "The good news is that vaccination plans with continued policy support are on course to lift the global economy out of the COVID abyss this year."
Raef Lawson, Ph.D., CMA, CPA, IMA vice president of research and policy, noted that the current path to global economic recovery differs from the financial crisis of 2007 to 2009, which resulted in a long period of subdued growth as private sector balance sheets were rebuilt through increased savings.
Said Lawson, "This crisis is different as its root cause is health and not economic. For now, global COVID-19 infections are high relative to the vaccination rate, so risks remain significant. But the huge government support provided to both households and companies over the last year leaves both well-placed to resume spending once the health crisis is over. There are likely to be permanent changes in the pattern of spending and other long-term economic consequences of the COVID crisis."
There are three factors that are heavily influencing economic prospects at present, starting with the rate of vaccinations, which can replace lockdowns to control COVID-19, thereby allowing economic conditions to return to normal. Second are major fiscal stimulus packages, such as in the U.S., which will have positive spill-over effects on other economies. Finally, particularly in advanced economies, significant savings accumulated during periods when spending was severely restricted can be a source of extra demand amid improved economic conditions.
The 2021 Q1 findings also reveal that confidence improved in all regions as did orders, with the exception of Africa. The "fear" indices - concern about customers and suppliers going out of business - showed mixed results in this survey but both remain above long run averages, underlining continued heightened uncertainty. Additionally, near-term cost concerns increased, reflecting higher commodity prices and other costs as the global economy recovers.
Further, the GECS notes that two-thirds of respondents expect higher inflation over the next five years, but there is a marked contrast between regions with North America registering higher inflation expectations than Western Europe.
North America/United States
In North America, the U.S. economy is likely to see economic growth of over 6% this year, in large measure due to fiscal policy, with measures worth around 14% of Gross Domestic Product (GDP) passed since last December. A large proportion of the spending plans in the latest America Rescue Plan are not directly related to COVID relief but are other policies of the new presidential administration. But the funds paid to households are likely to boost growth as they add to accumulated savings of those lower down the income distribution. Total household savings in over and above those that would have occurred anyway are estimated at $1.8 trillion (8% of GDP).
Last year, the U.S. economy shrank by a relatively modest 3.5%, but by the turn of the year, was growing steadily. With a significant portion of the population now vaccinated, the economy was already experiencing a strong upward trajectory even before the latest stimulus.
"Indeed, the U.S. will almost certainly be the first major economy, after China, to regain its pre-pandemic level of output, probably in the second half of this year," Lawson said. "The risk for U.S. policymakers is that massive fiscal and monetary ease, plus accumulated savings, could boost growth to the extent that overheating and higher inflation becomes a realistic prospect."
Taylor noted the concern about higher sustained inflation. Amid lockdowns, a collapse of global demand and a drop in commodity prices, inflation plummeted towards zero in many advanced economies and was subdued elsewhere.
"But as the post-pandemic world begins to take shape, there is now a debate about whether inflation is set to move higher, both over the short and medium term," Taylor said. In the near-term, rising costs will lift inflation rates back towards 2% in many cases.
Fieldwork for the 2021 Q1 survey took place between February 26 and March 11, 2021 and attracted 1,004 responses from ACCA and IMA members, including over 100 CFOs.
[Category: Accounting]
2021 Insurance Barometer Study Reveals Common Misconceptions That Prevent Americans From Getting Life Insurance They Know They Need
WINDSOR, Connecticut, April 13 (TNSOps) -- LIMRA issued the following news release on April 12, 2021:
Despite record-high consumer intent in purchasing life insurance, new research finds too many Americans mistakenly feel life insurance is financially out of reach or too difficult to obtain.
According to the 2021 Insurance Barometer Study, 36% of consumers say they plan to purchase life insurance within the next 12 months, which represents the highest purchase intent in the survey's history.
Even with this increased interest, there are 102 million uninsured and underinsured Americans who believe
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WINDSOR, Connecticut, April 13 (TNSOps) -- LIMRA issued the following news release on April 12, 2021:
Despite record-high consumer intent in purchasing life insurance, new research finds too many Americans mistakenly feel life insurance is financially out of reach or too difficult to obtain.
According to the 2021 Insurance Barometer Study, 36% of consumers say they plan to purchase life insurance within the next 12 months, which represents the highest purchase intent in the survey's history.
Even with this increased interest, there are 102 million uninsured and underinsured Americans who believethey need to buy life insurance or to increase their coverage. This represents 40% the adult population. The question is why don't they buy?
The study reveals most common reasons people give for not purchasing life insurance are cost and having other financial priorities. But more than half (53%) admit that they are unsure what product they would need or how much coverage to purchase. Nearly half (47%) stated that they have put off purchasing and over a third (36%) believe they simply would not qualify for coverage.
Misconceptions may be prompting consumers to hesitate
Similar to past studies, this year's Barometer report reveals more than half of Americans overestimate the cost of insurance by as much as three-fold. This was especially true for younger generations. Forty-four percent of Millennials estimate that the annual cost of 20-year term life insurance for a healthy 30-year-old at over $1,000 when it's closer to $165 per year. This misperception about cost, coupled with prioritizing other financial needs, puts families needlessly at risk of financial hardship should a wage earner die unexpectedly.
Like cost, many of the reasons consumers give for not getting coverage point to a lack of knowledge about the basics of life insurance. According to this year's study, less than a third of consumers said they were "very" or "extremely" knowledgeable about life insurance. Women were even less confident in their knowledge, with just 1 in 5 women saying they are very knowledgeable about life insurance. This may explain why life insurance ownership among women has declined for the past five years. Today life insurance ownership for women is 47%, much lower than the 58% of men who have coverage.
"Today, it's not enough to say you need life insurance or to think about purchasing it. It's time to act on these interests to protect your loved ones," said Faisa Stafford, LUTCF, president and CEO, Life Happens. "If the pandemic taught us anything, it is that the future is promised to no one. Our data shows that virtually no one regrets purchasing life insurance, demonstrating those who own life insurance understand and appreciate its value."
Overreliance on employer-sponsored life insurance coverage could put U.S. families at risk
The study finds men (35%) are more likely to believe the coverage they receive through the workplace is sufficient than women (22%). According to the latest U.S. Bureau of Labor Statistics, however, the median life insurance coverage offered at the workplace is either a flat sum of $20,000 or one year's salary. More than half of U.S. households rely on dual incomes (54%)1 and for many, losing one income could be devastating to the household. The latest Insurance Barometer study reveals that 42% of families would face financial hardship within six months, and a quarter would suffer financially within a month.
"Having adequate life insurance coverage is the foundation for a secure financial future," said David Levenson, president and CEO, LIMRA, LOMA and LL Global. "A good rule of thumb is consumers should have 10 times their salary to ensure their loved ones' futures are protected. But, after consulting with a life insurance licensed financial professional, the right amount may be more or less than that depending on their circumstances."
Expanded automated underwriting may attract more consumers to purchase
Nearly half of Americans (47%) say they have put off purchasing the coverage they know they need. This could be, in part, because they are intimidated by the process. Medical exams, collection of fluids and other aspects of the process can seem invasive. While simplified underwriting has increasingly been available over the past several years, the pandemic has accelerated its adoption. Today, LIMRA research shows that most life insurers offer accelerated or automated underwriting to their customers.
This year's study indicates that almost half of consumers (48%) say they are more likely to purchase coverage because of the prospect of simplified underwriting, including 42% of uninsured Americans. More than half (55%) say they like the idea of avoiding seeing a doctor and undergoing a paramedical exam.
Current life insurance owners regret not purchasing earlier
Younger consumers who do not yet have a spouse/partner or dependents may believe they can put off buying life insurance. In reality, life insurance is significantly less expensive when you're young and healthy.
"Nearly 4 in 10 insured consumers wish they had purchased their policies at a younger age," noted Stafford. "Our mission at Life Happens is to help educate consumers and help them better understand life insurance so they can get the coverage they need."
Given the dramatic spike in demand, LIMRA, Life Happens and six other trade organizations supporting the life insurance industry recently launched the Help Protect Our Families campaign to bring awareness to the U.S. life insurance coverage gap.
"While we hope for a quick end to the pandemic, it was a critical reminder to everyone in the life insurance industry that we still have a lot of work to do to help people get the appropriate life insurance protection that they need," said Levenson.
More findings from the 2021 Insurance Barometer report and information about the U.S. coverage gap can be viewed on the Help Protect Our Families page.
The 2021 Insurance Barometer Study, conducted jointly by industry nonprofit LIMRA and Life Happens for the past 11 years, examines the financial attitudes and behaviors of Americans, with an emphasis on life insurance.
Study Methodology
In January 2021, LIMRA and Life Happens engaged an online panel to survey adult consumers who are financial decision makers in their households. The survey generated over 3,000 responses. The results were weighted to represent the U.S. population.
[Category: Financial Services]
