Want to Feel Better About Life Insurance? Go Digital

Customer satisfaction with life insurance and annuity products picks up substantially when participants go digital, J.D. Power survey shows.

A granddaughter and grandmother look at life insurance and annuity products online.
(Image credit: Getty Images)

Two recent studies by J.D. Power, one on individual life insurance and the other on individual annuities, found that overall, customer satisfaction with each of these products is improving. This is a big turnaround from recent years in which customer satisfaction and engagement decreased the longer an individual held a policy. 

So what changed? Digital interaction. The studies showed that more customers use digital tools to monitor policy updates and changes and communicate with local agents and financial advisers. Nearly three-fourths, or 72%, of annuity customers regularly interact with their provider digitally via website, email, chat, text or mobile app.

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Kathryn Pomroy

For the past 18+ years, Kathryn has highlighted the humanity in personal finance by shaping stories that identify the opportunities and obstacles in managing a person's finances. All the same, she’ll jump on other equally important topics if needed. Kathryn graduated with a degree in Journalism and lives in Duluth, Minnesota. She joined Kiplinger in 2023 as a contributor.