The insurance industry tends to be resilient during economic turndowns and can grow during economic growth or inflation. Typically, insurance companies have consistent revenue, so many of them can afford to pay high dividend yields. Hence, this makes insurance companies an attractive investment opportunity.
Given this backdrop, income investors could consider investing in fundamentally sound insurance stocks such as Prudential Financial, Inc. (PRU), CNA Financial Corporation (CNA), and Lincoln National Corporation (LNC), which have high dividend yields.
