Generation Z is digitally savvy and prefers to buy products and services online. This also applies to life insurance. Many companies, such as Haven Life and Bestow, are offering convenient online platforms for policy purchase, which is attractive for young people.
Another feature of this generation is the search for affordable prices. Term Life Insurance policies typically offer significant coverage at relatively low premiums making them attractive to young people.
Besides, Generation Z is more aware of financial products and the importance of financial planning due to easy access to information through the internet and social media. They often use resources such as financial blogs and YouTube videos for advice and guidance.
Generation Z prefers insurance products that are affordable, understandable and easy to purchase online. They value flexibility, personalization and transparency, and understand the importance of financial planning and protecting their loved ones. Insurance companies that comprehend these preferences and tailor their offerings to the needs of young people can successfully attract and retain customers from this generation.
Photos are from open sources.
