FACT:

FACT:

FEWER THAN 20% OF THOSE BETWEEN 18 AND 34 YEARS OF AGE SAY THEY’RE VERY LIKELY TO BUY LIFE INSURANCE, ACCORDING TO A RECENT LIMRA STUDY

This demographic used to be one of the prime groups to contact for insurance needs as they married, had children or bought their first house. Why are they not buying coverage? Is this a result of people marrying later? Counting on older generations to cover them if something goes wrong? Anger over the burden of student loans? Or just wanting to spend their discretionary dollars on more immediate, fun activities? Or is it because licensed agents are not talking to this group due to the low premiums and lack of compensation potential?

I do not think that anyone can point a finger at any one reason why this group is not purchasing insurance. I can tell you, however, that major life insurers are investing millions into educational social gatherings (yes, wine is served) to attract this age group to actively learn and, hopefully, buy.  Another major carrier is hoping to attract new insureds by offering discounts in premium pricing year after year for showing, via computer, that they make healthy lifestyle choices.

All I do know is that ignoring this generation is not the right thing to do for them, nor for our industry.  So, what is the answer?

First, I think it wise to encourage brokers to work the generations of their clients—if you have clients with adult aged children, it is simply crazy not to ask for introductions.  Your clients see the value of insurance and would be happy to know that their children will also protect their families too. Contact and decisions can be easily made—and with our LIGHTNING APP the quote and drop ticket can be done on your mobile device or computer—and we will do the rest.

Next, consider using the Guaranteed Advantage Product from Mutual of Omaha.  It is the perfect fit for this generation of extreme (or purported extreme) sports participants.  This generation spends a great deal of their discretionary income scuba diving, skiing, boating, climbing, hiking, surfing, climbing………..  Even if they are not “extreme”, there are those who talk and live in that conversation.

What is GUARANTEED Advantage?  It is:

  • GUARANTEED ISSUE Accidental death coverage—24 hours a day—at work and at play
  • Face amounts up to $500,000
  • Issue ages 18-75
  • NO HEALTH QUESTIONS OR EXAMS
  • Return of Premium Rider available!
  • Increased benefits for Auto/Pedestrian and Common Carrier Events
  • Also works for police officers, fireman etc.
  • OFFERS HIGH COMPENSATION ON EACH CASE!

The Advantage product is also ideally suited for those in more high risk professions (firefighters, police officers, construction workers, people on the road all the time?), since coverage is 24 hours a day.  It is the ideal conversation to have with the younger generation, who clearly think they will only be at risk as they participate in high risk activities.  This is one of the most straightforward ways to increase your business, add a new generation of people to talk with, and open the door for additional planning and opportunities.  The product is offered through Joline Associates by A+ BEST Rated Mutual of Omaha.

Call us today to get quotes and learn more.  I truly believe you have a great opportunity with this product—and we can help you market with it.

As always, we look forward to speaking with you,

Pat Joline, CLU, ChFC

800-203-2797