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Wednesday May 22nd 2013

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Internet Searching for Insurance, Annuities Up More Than 60% in Six Years

The number of individuals who used the Internet to research individual insurance or annuity products rose more than 60% in the past six years. Sixty-one percent of consumers who researched individual insurance or annuity products did so online, compared to 38% who looked online in 2006. Sixty-nine percent of consumers sought information from agents, brokers and advisers, who they viewed as a valuable and influential information sources, said Mary Art, research director, LIMRA technology research. Most people who turned to the Internet did so because of the research companies and product offerings available online, to seek general product information or to compare prices, LIMRA found. This was true for all age groups and income levels according to a recent report at Credit Union Times.