Americans are looking for Bitcoin life insurance

Nearly half of current life and annuity owners already own digital assets and are now looking for an insurance carrier that enables more direct and indirect exposure to cryptocurrencies through insurance products, according to a new survey on Bitcoin by NYDIG, a specialist technology and financial services company.

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With more than 46 million Americans owning Bitcoin today, insurance carriers have the opportunity to dig deeper into Bitcoin.

One of the key findings of the survey is that half of the respondents want to receive all or part of their insurance payouts in Bitcoin.

Additionally, the survey finds that 75% of respondents expressed at least some interest in learning more about Bitcoin annuities and Bitcoin life insurance, and of those who don’t already own digital assets, 55% said they will in the future might consider.

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Find: How To Invest In Cryptocurrency: What You Should Know Before Investing

Almost 4 out of 5 respondents also expressed at least some interest in life insurance or annuity products that allow indirect Bitcoin exposure.

“Cryptocurrency is an exciting development in the world of alternative finance, but insurance companies are conservative in their outlook and it is very predictable that they will proceed with caution,” David Grasso, CEO of BoldTV, told GOBankingRates. “They have a long-term perspective and cryptocurrency is too new to automatically assimilate as an asset class without question.”

Some insurers are starting to stick their toes in crypto, like Massachusetts Mutual Life Insurance Co., which said in December 2020 that it was selling $ 100 million in Bitcoin for its general investment account, as well as a $ 5 million equity stake in NYDIG bought. “We are proud of this incredible moment in the history of Bitcoin and the insurance industry. This reflects the expansion of Bitcoin to general investment accounts of insurance companies, ”said Robert Gutmann, co-founder and CEO of NYDIG, in a statement at the time.

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This article originally appeared on Americans Are Looking For Bitcoin Life Insurance

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