Selling the Value of Life Insurance to Millennials

Life Insurance for Millennials

As many companies can attest, marketing insurance to Millennials is no easy feat. This generation of young, self-sufficient adults is facing an economic situation unlike one seen by previous groups. With student debts mounting and job uncertainty, many Gen-Yers are resistant to saving and investing for the future. The challenge for insurance companies is in finding a way to reach this demographic in a marketing climate that is changing by the day. Selling life insurance to Millennials means understanding the tendencies of the demographic and adapting to their desire for more digital communication.

For Millennials, Life Can Wait

Millennials are waiting longer than previous generations to start their lives. This includes getting married, buying a home, having children and finding a career. Today, the median age for marriage is between 27-29, and the average age of childbearing has risen to over 26. As such, life insurance sales for Millennials has been struggling. Because so many in this age group are putting off major life changes until they’re older, fewer see the need for a life insurance policy. They don’t have dependents, few have mortgages, and many are in debt. When marketing insurance to Millennials, it’s important to understand that many do not have the same coverage needs as their parents did. Read More


First 5 Questions You Should Ask Your New Insurance Agent

New-Insurance-Agent

When you decide to purchase life insurance, you are making a good financial decision that will affect you for many years to come. Due to the importance of this insurance for you and your family, there are five questions you should ask your new life insurance agent immediately:

How Much Life Insurance Do I Need?

You should start a conversation with your new life insurance agent by asking how much life insurance you need. The life insurance agent will need to ask you some questions to help you figure this out. For example, the agent will need to know your current income amounts and what outstanding bills you have to determine how much your spouse would need if you died prematurely to carry on in the same lifestyle. Another factor that will influence this decision is how much you can afford to pay for an insurance premium each month. Read More


How to get Insurance Referrals

Insurance Referrals

As a licensed insurance agent, I often asked myself

How do I ensure long-term success in the insurance industry?

Very simple…If you ask for referrals, you will receive them. This may seem simple, but often times it is the least favorite and most forgotten task to accomplish when selling insurance. Some may think that asking for referrals is intrusive or uncomfortable, others have no problem asking, but are quick to blow it off when they hear any version of “no.” Whatever the case, these individuals often times end their insurance careers prematurely because they just can’t find enough customers to keep selling…and there in lies the dilemma with a successful insurance career. Read More