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

WINDSOR, Conn., March 2, 2015—A LIMRA study finds majority of Gen X and Y consumers believe they need more life insurance. At the same time, less than 20 percent said they are very likely to buy life insurance.

Insurance executives will gather at the 2015 Life Insurance Conference on April 13 – 15, in Arlington, Virginia to discuss ways to better engage consumers, closing the gap between recognized need and actual life insurance ownership.

“The study clearly shows that people recognize the value of life insurance and the risks they face being underinsured,” said Todd A. Silverhart, Ph.D., corporate vice president, LIMRA Insurance Research. “Yet other financial priorities and confusion on what they need lead many consumers to postpone buying life insurance.”

Separate LIMRA research has identified nearly 19 million consumers who need life insurance but have become stuck during the shopping process. “At the conference, we will be discussing how authentic communication could improve engagement,” said Silverhart.

Among this year’s featured speakers are Dirk Kempthorne, former Idaho governor and U.S. senator, and current president and CEO, American Council of Life Insurers (ACLI), and Michio Kaku, physics professor at the City University of New York.

With the theme “Innovation to Opportunity,” the 2015 Life Insurance Conference will address the latest in product development, marketing, distribution, operations, administration, regulatory, and strategic issues. Hosted by LIMRA, LOMA, the Society of Actuaries (SOA), and the American Council of Life Insurers (ACLI), the conference typically draws more than 500 professionals from companies around the world.

The conference will be held at the Crystal Gateway Marriott in Arlington, Virginia. Those who register before March 17 will receive a discount. For more information or to register online, please visit: 2015 Life Insurance Conference.

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LIMRA Contacts

Catherine Theroux, +1-860-285-7787, ctheroux@limra.com
Mark Morris, +1-860-285-7875, 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. Visit LIMRA at www.limra.com.

About LOMA

Established in 1924, with 1,200 plus member companies in over 80 countries, LOMA is committed to a business partnership with its worldwide members in the insurance and financial services industry to improve their management and operations through quality employee development, research, information sharing, and related products and services. To find out more about LOMA and the learning opportunities it offers, visit LOMA’s website at www.loma.org.