With the continuous instability of the stock market and diminishing returns on real estate investments, American families are growing increasingly anxious as each day continues to eat away at their life savings and investments.

This trend has had an unexpected effect on the insurance industry. Grand Rapids-based Paul Goebel Group, administrators of a wide range of insurance products, has realized a recent spike in life insurance inquiries from current clients.

Principals at the agency are reporting that clients are calling wanting to evaluate the amount of their current life insurance policies. Historically, people have relied on their investment portfolios to maintain their family’s standard of living should an untimely death occur. Now, families are reassessing their life insurance to ensure their family standard of living continues.

“While people have not overtly mentioned their plummeting portfolio values as the reason for reviewing their life insurance, we are nonetheless experiencing an increase in requests for such an analysis, particularly from existing clients,” said Jeff Elble, Vice President, Paul Goebel Group. “Given the current state of the economy, people are looking at their life insurance as a way to ensure that their family and investments are financially secure should the breadwinner or working spouse die.”

Paul Goebel Group in Background

Since 1932, the Paul Goebel Group has been marketing innovative insurance programs tailored to meet the specific needs of businesses and professionals in Michigan. Today, the Paul Goebel Group designs, markets, and administers a wide range of plans for life, accident and health, disability, professional liability, commercial, property, Workers’ Compensation, auto and homeowners. For association members and all types of businesses, the agency virtually serves as a single source for its clients’ insurance needs. The Paul Goebel Group anticipates meeting the challenges of the future with experience, flexibility, and highest level of customer service available.