As the trend for young adults to wait longer to start families grows, the divide between insurance companies and members of the millennial generation grows as well. Many young adults are do not see the value in life insurance or other end of life planning, but believe it can wait until they are more settled and have a spouse and children. The drop in rates for life insured individuals is causing insurance companies to offer other kinds of insurance and financial planning services, and rethink how they are communicating with this new generation of clients with different values and consumer needs.
See Bloomberg News, Death Event Planning Postponed by Millennials, Pressuring Insurers, Financial Advisor, May 29, 2014.
Special thanks to Jim Hillhouse (Professional Legal Marketing (PLM, Inc.)) for bringing this article to my attention.
