Dive Summary:

• One in five U.S. consumers is prepared to purchase life insurance through popular retail stores, according to research released by LIMRA.
• When asked about their preference for purchasing insurance through non-traditonal channels including retail outlets Walmart and Costco, 17% stated they would be ‘amenable in doing so’.
• New York policy carrier Metlife is among the insurers currently pursuing the retail strategy in 2013, rolling out policies in about 200 stores through Georgia and South Carolina in October 2012.

From the article:

“In light of the novelty of the concept and that few people have actually shopped for life insurance through a retail outlet, there is likely to be considerable confusion in the eyes of the consumer as to what such a purchasing experience might entail. For carriers seeking a niche market, retail ventures could be a worthy approach.”