Here are some of the findings, courtesy of the survey's executive summary:

54% of Americans said that COVID-19 has made them more anxious about dying early, becoming disabled or needing long-term care, including 21% who said COVID-19 has made them much more anxious.
61% of Americans with at-home dependents said COVID-19 has made them more anxious about dying early, becoming disabled or needing long-term care, compared with 50% of Americans without at-home dependents.
38% of Americans said the pandemic has not changed their thoughts on dying early, becoming disabled or needing long-term care, and 8% of Americans said COVID-19 has made them less anxious.

Motivated to obtain policies

Additionally, the pandemic has motivated people to acquire or maintain insurance policies when they can afford them. For example:

31% of Americans said the COVID-19 pandemic has made them feel more driven to acquire or maintain life, disability, and long-term care insurance. This includes 41% of Americans with at-home dependents and 26% of Americans without them.
14% said the pandemic has made them feel less driven to acquire or maintain coverage, while 55% said the pandemic has not changed their outlook.
24% of Americans who formerly had financial advisors said the pandemic has made them feel less driven to acquire or maintain coverage vs. 10% of Americans with advisors and 12% of Americans without advisors.

What's more, 36% of respondents who have health insurance said they acquired at least one new policy since March 2020, including 52% of Americans with dependents at home and 23% of Americans without dependents at home. MDRT officials suggest this "may be more of a reflection of the chaotic employment situation in 2020 than proactive financial planning."

Instant Insights /

Survey reveals impact of COVID-19 on Americans' approaches to health insurance

More From HR Executive

Related Stories

Recommended For You