A new study suggests that life insurance leads will likely increase in number for agents in the next few years, as the report says there's been a considerable rise in the number of people starting families.
As reported by The Registered Rep, according to a study from Demographic Intelligence, between 2007 and 2010, the fertility rate in the U.S. dropped about 7 percent. Since then, however, the rate has risen, as researchers project that it will move from 1.93 children per woman two years ago to 1.98 children per woman by the end of 2012. In addition, it's projected that four million babies will have been born in the country before the year's end.
This is good news for agents looking to secure life insurance leads, as the news source notes that adults with children tend to purchase life insurance to protect their families.
Bradford Wilcox, the study's lead author and associate professor of Sociology at the University of Virginia, indicated that many women put off starting a family at the start of the recession, which most analysts say began in 2008.
"Now, we think more women and couples have decided to go ahead and have a child – especially that second or third child that they put off at the height of the recession," said Wilcox.
There are three potential reasons that may explain why the birthing rate is trending upward, the report notes. This includes more women reaching their peak childbearing years, couples deciding to have children earlier than they had initially planned and what spouses define as the ideal family size has risen, jumping from an average of 2.39 two decades ago to 2.66 in 2010.
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