1. Covid-19 pandemic boosted life insurance sales

Black Americans were disproportionately affected by covid-19 in catching the virus, hospitalization, and deaths. This devastation prompted Black Americans to seek life insurance at higher rates than other racial groups, NBC News reported.

The death rate per 100,000 people was higher among Black Americans than any other group, according to the National Center for Health Statistics.

The pandemic “brought the idea of mortality to the forefront of people’s minds,” said Alison Salka, a senior vice president and director at financial services company LIMRA, told NBC News. “So generally, we found that because of the pandemic, almost a third of customers said they were more likely to buy life insurance because of it, but that number goes up for different demographic groups, like Black Americans.”