Banks' entry into life insurance marketing is drastically altering the competitive landscape of this traditional financial product, a recent survey of life insurance company executives concluded.

According to the biannual Tillinghast-Towers Perrin survey, almost 90% of the 101 participants said the primary change in the life insurance business is caused by banks and securities firms impinging on the turf of life insurance agents. The finding was up from 68% of respondents in 1993.

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