Policy Case Study: direct life insurance

How consumers buy direct life insurance


Our report describes how consumers decide to buy direct life insurance and how they decide how and what to buy. Our sense-making approach to research revealed how some consumers struggle with their experience. These products are complex so consumer understanding of their features is often poor.

Here is an extract:

'Most buyers knew only a little or nothing about life insurance products, did not understand what each type of insurance covered and had not undertaken significant research before their purchase. Indeed, most reported that they had not thought about buying life insurance products beforehand. Rather it was simply something they had in mind before making their purchase decision. This lack of consideration was reflected in the fact that while around half reported they had thought through the type of insurance, the level of cover or the premiums they wanted, few had considered all these elements, or the events or illnesses they wanted to cover or how their medical history might affect their policy.'

Tags: Direct life insurance

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