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Today's Key Question:
Did you know that the life insurance industry could end up paying $7billion in claims this year related to COVID-19?
See the article below from Think Advisor.
"What It's Like To Be a Business Owner During COVID-19"
One thing I would say, in this time where so many have been hurt and so many jobs have been lost and people are really struggling, is how much independent businesses have done to help their communities. That has been something so beautiful that has come out of COVID, if you could call it that. Many people did things like this, so this is not just to talk about what we have done. Right when people started cutting back—it was in the middle of March—we started something called Family Meal Alexandria. We partnered with our vendors, because they had so much food they couldn't use; they weren't selling it anymore. And so we got them to donate all of the food to us instead of giving it to food banks or throwing it away, which is what most of them were doing. We paid our cooks and our chef to cook all the food. And then we hand out free meals every day out of our Del Ray location. And we've been doing that since the end of March.
"Mortgage rates fall below 3% for first time ever"
* The average rate for a 30-year-fixed mortgage dropped below last week's record low of 3.03% and marks the seventh new low since March. Record-low rates have led to increased demand among homebuyers, according to Freddie Mac.
"What Is Causing the Spike in COVID-19 Cases?"
* Dr. Jeffrey Barke: Cases are rising, but the fatality rate is dropping. The average age of new cases is 31—fatality is so low for that age group that it's hard to even calculate. This and MUCH MORE in this important Will Witt interview on COVID-19—don't miss it!
"Creating Meaningful Change for Our Life Insurance Customers"
* Across industries, companies have acted and adapted quickly to meet customers’ needs during COVID-19. Ours is no exception.
The life insurance industry was already undergoing a transformation before COVID-19 hit, but the pandemic created a paradox that underscored the need to accelerate that transformation. While there was suddenly unprecedented demand for life insurance, there were also unprecedented challenges to meeting that demand. The pandemic also cast light on trends that are likely to fuel our future trajectory. COVID-19 is reinforcing the important role life insurance companies can and should play in society and the value we can offer our customers. More importantly, it has highlighted what we must do to continue to deliver on our commitments in a meaningful and relevant way.
Here's a short video from Steve on how you can purchase insurance in these changing times....Watch Here