Life insurance sales among young people aged between 18 and 25 more than doubled at BB Seguros in 2021. The growth was 119% for those aged between 18 and 20 and 103% for people aged 21 to 25.
According to the company, the demand of young people for insurance also increased in the residential segment last year, with an increase of 36% between 18 and 20 years old and 43% between 21 and 25 years old.
In March, the peak of Covid-19 in Brazil, the insurer had the highest growth rate for the two modalities compared to the same period in 2020.
João Fruet, commercial director of Brasilseg, a BB Seguros company, says that this trend began to be observed at the beginning of last year. For 2022, he expects a scenario of stable growth.
A survey by Fenaprevi (National Federation of Private Pensions and Life) points out that the personal insurance branch accumulated R$ 46.4 billion in premiums last year, an increase of almost 13% compared to 2020.
Individual life insurance was the one that grew the most, with an increase of around 29% on the same basis of comparison, with R$ 8.9 billion collected. In terms of premium volume, the highlight was credit life insurance, which guarantees the payment of debts in the event of death or disability, and raised R$14.3 billion.
Claims also advanced more than 50% from January to November 2021 over the same period in 2020, driven by the pandemic, says Fenaprevi.
with Andressa Motter e Ana Paula Branco
Source: Folha
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