Twenty percent of life insurance shoppers went through their place of work to purchase the product, and 75 percent of workplace shoppers bought life insurance, according to a recent LIMRA study.
One-third of shoppers said they bought the product simply because it was offered to them at work.
"More and more people are turning to their place of work to get the financial products they need," says Kim Landry, an analyst at LIMRA's Group Product Research. "Clearly, the convenience of having the resource at their place of work coupled with the feeling of security felt by working with someone their employer has (implicitly) approved, are drawing consumers to this channel."
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