Consumers going after cheaper products do little to help the nation's deflation woes and usually end up hurting companies in the form of declining sales revenues.
But this is not necessarily the case in the insurance business, where it can actually spur sales growth.
Consumers are becoming more interested in cheaper products and living benefits, in contrast to conventional insurance policies that focus on death benefits and thus feature high premiums, according to Daniel Amos, chairman and chief executive officer of AFLAC Inc., the holding firm for American Family Life Assurance Company of Columbus Inc., based in Georgia.