Life insurance activity notches slight rise

More insurance customers may have realized that life insurance coverage costs less than they thought, as application activity increased marginally in April.

According to LifeHealthPro, life insurance application activity edged northward last month, rising 0.6 percent for all ages when contrasted with the same month in 2011.

The report, which was released by Massachusetts-based firm MIB Group, marks the second straight month in which application activity has improved, but purchases have been fairly slow in comparison to previous months, specifically December through February. Nevertheless, in year-to-date sales, the MIB Life Index has risen 3.3 percent when comparing the first four months of 2012 with the same period last year.

But application activity was mostly found in only certain age groups, specifically those who were 60 and older, LifeHealthPro reports, as purchases jumped by nearly 7 percent year-over-year. Meanwhile, activity among individuals 44 and younger fell 0.8 percent, while applications from the 45-to 59-year-old segment dropped 0.5 percent.

It may be a good idea for insurance agents whose sales have slipped to remind their customers about the value of life insurance and what it can do for them, such as replacing income and covering death-related expenses.

Social media still an engine for insurance sales

If maintaining a social media presence isn't resulting in more leads for insurance agents, a recent article by Financial Planning magazine should serve as an incentive for agents to stick with the online resource.

According to the website, based on a 2011 Hubspot survey of 611 advisors, 61 percent of them acquired at least one client through LinkedIn, 40 percent obtained at least one through Twitter and 35 percent secured at least one through Facebook.

"It would not be a big stretch to assert that the percentages of success have been and will be going up as more and more advisors get the hang of and embrace social media as a part of their overall marketing plan," the website said.

To build a social media and online presence, Financial Planning says agents may want to try their hand at blogging. Frequent blog posts helps to improve search engine optimization. In addition, blogging can set agents apart from their competitors by positioning themselves as a resident expert in a specific field.

The website also recommends maintaining that social media presence by responding as frequently as possible to any comments or questions that are posted.

Poll shows Americans’ access to healthcare has fallen

While health insurance leads haven't deteriorated for insurance agents, the same can't be said for insurance customers' access to coverage.

Released by the Robert Wood Johnson Foundation in consultation with researchers from the Urban Institute, a new study suggests that virtually every state has seen a reduction in access to health services within the past 10 years, particularly southern states such as Tennessee, Florida and Georgia.

Among the findings, the report reveals that in 2010, close to half of U.S adults - roughly 48 percent - had a health need that went unmet because of cost concerns. This was true among just 11 percent of adults who had health insurance coverage.

The poll also showed that the number of adults experiencing unmet medical needs because of cost rose by 6 percent between 2000 and 2010. Among the uninsured, unsatisfied medical needs jumped nearly 11 percent.

Gordon Bonnyman, executive director of the Tennessee Justice Center, told Kaiser Health News that the reduced care isn't a surprise, as spending cuts in the Volunteer State have resulted in 300,000 people being removed from Medicaid rolls.