LIMRA Study Finds Majority of Gen X and Y Consumers Believe They Need More Life Insurance, But Few Will Buy
Industry Executives Will Gather at Preeminent Event to Examine the Disconnect.
Majority of Younger American Adults Would Suffer Substantial Financial Consequences If Income Were Interrupted
WINDSOR, Conn., June 23, 2014 — A new LIMRA study found that 6 out of 10 Generation X and Y Americans say losing their income for 6 months due to accident or illness would have a significant or drastic impact on their families' financial well-being.
WINDSOR, Conn., April 18, 2013 —LIMRA research reveals that the majority of Generation X and Y consumers have little understanding of financial products and services and less than half make saving for retirement their top priority.
WINDSOR, Conn., Feb. 14, 2013 — More than half of Gen X and Gen Y consumers admit having little or no knowledge about investments and financial products, according to a recent LIMRA study.
How can life insurance companies attract more Gen X and Y consumers and deliver higher levels of customer satisfaction?
As Gen Xers and Gen Yers consider life insurance, do they use the Web? How do they buy life insurance? How can insurance companies use the Web as a link to Gen Xers and Gen Yers to educate them and build their brands? Companies need to use the Web to reach out with education and service to establish links between them and their potential future customers.
When presenting research on the generations, I'm often asked why so much attention is given to Gen Y and so little to Gen X. LIMRA and other organizations certainly study Gen X (ages 33-50) but it's fair to say they receive less attention than Gen Y (ages 25-32) and Baby Boomers (Ages 51-65).
LIMRA: Generation X Americans Are More Concerned About Having Enough Money for Retirement than Other Generations
More than one-third of Gen X Americans not confident that they will have a secure retirement.
Sessions at 2014 LIMRA Annual Conference will Highlight Emergence of Generation Y.