Half of Generation Y Says Need for Financial Advice has Increased in Last Few Years

WINDSOR, Conn., Sept. 17, 2014 — In a new LIMRA study, 52 percent of Generation Y consumers said they want professional financial advice to determine their need for life insurance.  In the last five years, Generation Y has also improved their income and financial situation more than other age groups. 

"As members of Generation Y mature they are an emerging market for life insurance with 4 in 10 somewhat or very likely to buy," said Alison Salka, senior vice president, director of research for LIMRA.  "In addition, nearly 80 percent of Generation Y consumers told us they are already concerned about saving for retirement." 

The 2014 LIMRA Annual Conference, which will be held Oct. 26-28, in New York city, will feature presentations on Generation Y from Jason Dorsey, a generational expert known as "The Gen Y Guy" and Lauren Friese, founder of career website TalentEgg.

Jason Dorsey is the author of "Y-Size Your Business" who works with organizations on how to interact with Generation Y consumers and how generations can work together to achieve measurable results.  

Lauren Friese founded TalentEgg in 2008, after realizing her native Canada didn't have any effective career websites to transition students to the workplace.  Her presentation challenges stereotypes about Generation Y workers and how organizations can unlock this generation's unique potential.

The LIMRA Annual Conference traditionally draws more than 500 industry executives from insurance and financial services companies all over the world.

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Contact LIMRA 

Catherine Theroux, 860-285-7787, ctheroux@limra.com
Mark Morris, 860-285-7875, mmorris@limra.com

About LIMRA 

LIMRA, a worldwide research, learning and development organization, is the trusted source of industry knowledge, helping more than 850 insurance and financial services companies in 64 countries increase their marketing and distribution effectiveness. Visit LIMRA at www.limra.com.