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Springfield life insurance brokers are seeing an increase of people purchasing life insurance

Published: Nov. 20, 2020 at 11:30 PM CST
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SPRINGFIELD, Mo. (KY3) -

Brandon Thompson, owner and principal agent of Millennium Brokers Insurance said more people are purchasing life insurance.

”Life insurance purchasing has at least doubled over the past year,” said Brandon Thompson with Millennium Brokers Insurance.

While every policy is different, life insurance covers expenses when you pass along with protecting your assets.

Thompson said the pandemic is one of the reasons for the surge.

”Average funeral right now is probably over $10,000. You can have life insurance to help you with those expenses,” said Thompson.

He said the fear of the pandemic isn’t the only reason people are purchasing life insurance, but the fear of losing their jobs.

”A lot of people have life insurance through their employer. The thought of losing their job they know sometime their life insurance can go with it or become more expensive,” said Thompson.

He said while life insurance can be intimidating he recommends purchasing in your early 20s.

”A lot of people think life insurance costs a lot of money so they don’t want to purchase or wait to purchase it until later on in life,” said Thompson.

Thompson said it’s not as pricey as people think and it will help your loved ones in the long run.

”Life insurance gives people a piece of mind because they are able to know they have that protection in place there,” said Thompson.

Many agencies are offering virtual meetings instead of in person.

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