Swott Of Life Insurance
SWOTT of Life Insurance
SWOTT is an analysis or comparison of “strengths, weaknesses, opportunities, and threats that helps executives formulate strategy”, according to Bateman & Snell (2004, p. 122). An industry must capitalize on the information gathered, accept what the data states, and then form a plan of utilization, counteraction, and alleviation (Bateman & Snell, 2004). The life insurance industry is no different in this regard than any other business. An examination of the strengths, weaknesses, opportunities, threats, and trends will be discussed from the external public’s view, commonly known as the policyholder.
Life insurance customers have two options: whole life and term. The strengths of whole life are: (1) upon death, a lump sum can be disbursed to the beneficiary or some companies offer a monthly allotment, (2) the premiums are set, (3) “cash value” will increase as the policy ages with the added benefit of a disbursement if the policy is......
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Approximate Word Count: 681
Approximate Pages: 3 (250 words per double-spaced page)
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