Americans Under the Age of 25 Estimate Life Insurance Costs to Be 4x Its True Cost

Jun 29, 2016

Individuals who don’t have life insurance, particularly young Americans, tend to overestimate the costs of various life insurance policies, and not just by a little bit. The most recent Insurance Barometer Study by Life Happens and LIMLA found that Americans under the age of 25 estimate life insurance costs to be four times as great as they actually are.


What does this mean for you?

It means that there is a large, virtually untapped market of adults who would love to have life insurance but don’t have it.


What can you do about this?

Market the life insurance products you sell to young consumers, using engaging strategies that will grab the attention of young Americans and bring them to your desk. Discuss the various types of life insurance with these individuals, and push products that are well-suited to them and in your interest to sell.

Who benefits?

Everyone benefits. First and foremost, you will give uninsured and underinsured adults the gift of peace of mind that comes with having the right life insurance policy. Your client base is likely to expand, and your profit margins could rise considerably. Society will benefit as well, as more consumers who don’t think they can afford life insurance realize they can afford it, buy it, and tell their peers about it.


How do you do this?

A truly savvy insurance broker knows he or she needs help, help from insurance marketing specialists and financial professionals with strong connections in the insurance industry. Helpful apps, calculators, webinars, and other tools are among the services Brokers Alliance provides. We also offer personalized support to those who join our network of trusted financial advisors.

Want to make sure you reach this demographic before the market becomes oversaturated?Call Brokers Alliance at (800) 290-7226, and ask about the tools and resources that will best help you reach young, uninsured and underinsured consumers.

Category: Life Insurance

Category List

Tag List

2019 (1)
Financial Planning (20)
Gender Gap (1)
Executive Bonus Arrangement (1)
Required Minimum Distribution (1)
resources (1)
Clients (2)
Life Insurance (90)
Variable Annuities (1)
leads (6)
Market Exposure (1)
IUL (13)
Healthy Living (1)
Universal Life Insurance (2)
term life (8)
Breast Cancer Research (1)
Prospecting (4)
Additional Earning (1)
products (5)
advanced markets (1)
PPC (2)
Retirement Planning (24)
Tips (4)
Life Insurance Brokers (6)
Brokers Alliance (8)
CSO (1)
presentations (2)
Life Insurance Broker (15)
hiring (6)
Death Benefit (2)
PBR (1)
Index Universal Life (1)
Production (1)
Life Insurance Check Up (6)
Baby Boomers (1)
Health Care (2)
Star Wars (1)
Protection (1)
Life Insurance Awareness Month (6)
IRA (1)
Sales (24)
Marketing (12)
underwriting (1)
Quoting Tools (1)
Fixed Annuities (9)
non-med (2)
Charitable Giving (3)
Alternatives (5)
Compliance (1)
Facebook (2)
key person (1)
Indexed Annuity (3)
Asset-Based LTC (1)
Investments (2)
FIA (1)
industry trends (1)
term (5)
sales presentations (2)
Life Quotes (4)
advanced planning (2)
Gift (1)
Income Planning Academy (1)
Best Rates (1)
Deferred Fixed Annuities (1)
funeral (1)
Interest Rates (1)
Charity (2)
Donation (1)
Life Insurance Trends (21)
Looking Forward, Giving Back (1)
Income (1)
estate planning (2)
savings (1)
Brand Values (1)
Pitch (1)
life insurance awareness (1)
Long-Term Care Awareness Month (1)
quoting (1)
Annuity (1)
E-App (1)
Video On-Demand (2)
Cash Value (1)
Media (2)
DOL (2)
Advice (1)
Fixed Indexed Annuities (2)
life 101 (2)
buy sell agreement (1)
march madness (1)
Brokers (2)
private pension funding (1)
life happens (1)
Social Media (8)
tools (2)
injury (1)
Training Event (1)
Retirement Strategy (4)
gul (2)
Alternative Investments (2)
Premium Finance (5)
Legacy Planning (1)
Content Building (2)
MYGA (10)
Financial Legacy (6)
Retirement Investment (3)
life insurance quotes (1)
Retirement ACE (1)
Millennials (6)
illness (1)
business (1)
premium deposit account (1)
Leaderboard (1)
rates (1)
Annuity Update Show (11)
Roth (1)
training (4)
Generation Y (1)
Retirement (12)
Tax Benefits (2)
social security (1)
PIA (2)
networking (1)
case studies (3)
RMD (1)
permanent life insurance (4)
Benefits (1)
end of year (1)
Insurance (21)
final expense (1)
Sales Concepts (13)
consumer marketing (6)
Life Insurance Evaluation (8)
Annuity Concepts (12)
business owners (4)
Life Insurance Update Show (9)
business planning (6)
Waste Management Open (1)
Legacy (1)
living benefits (7)
business solutions (4)
review (2)
Beneficiary (1)
sales kit (1)
Webinar (1)
Immediate Fixed Annuities (1)
Hybrid Products (1)
earning opportunities (1)
Breast Cancer Awareness Month (5)
Brokers Alliance Open (1)
Long Term Care (4)
Mobile App (1)
Financial (4)
trends (1)
selling (1)
Annuities (32)
Social Optimization (3)
Product Updates (1)

Tag Cloud

life insurance awarenessreviewbusinessDeferred Fixed AnnuitiesIncome Planning AcademyCash ValueFinancialIndex Universal Lifeend of yearprivate pension fundingIncomebusiness planningconsumer marketingunderwritingWebinarSales ConceptsFinancial Planningfuneralindustry trendsImmediate Fixed AnnuitiesCSOinjuryTipsBrokers Alliance Opensales presentationsBreast Cancer Awareness MonthRequired Minimum DistributionIULTraining EventAlternativestrainingStar WarsProductionFixed Annuitieskey personLife Insurance TrendsRetirement PlanningFacebookSalesBrokersDeath BenefitAdviceearning opportunitiesMobile AppQuoting ToolstermRetirement StrategyBrokers AllianceIRAAnnuity Update Showbusiness solutionsPitchIndexed AnnuityExecutive Bonus ArrangementE-AppAnnuity ConceptsPremium FinanceLife InsuranceLife Insurance Check UpBreast Cancer ResearchPIAProtectionAnnuitiesVideo On-DemandLife Insurance Awareness MonthMYGAsocial securitysavingsSocial MediasellingProspectingLegacyHybrid ProductsLong-Term Care Awareness MonthMarketingLife Insurance Update ShowHealth CareLife QuotesAsset-Based LTCLife Insurance BrokerAnnuityGiftadvanced marketsInvestmentsresourcesBenefitspresentationsWaste Management OpenleadsPBRInsuranceRothRetirementlife 101toolsMediaAdditional Earningbusiness ownersGender Gappremium deposit accountBaby Boomerspermanent life insuranceLegacy Planningestate planningSocial OptimizationUniversal Life InsuranceGeneration Yadvanced planningliving benefitsRMDLife Insurance EvaluationDOLfinal expenselife happensInterest RatesHealthy LivingClientsillnessMarket ExposureRetirement ACElife insurance quotesFinancial Legacymarch madnesscase studiesBest RatesLong Term CareFIAbuy sell agreementCharityPPCratesContent BuildingtrendsRetirement Investmentsales kitLooking Forward, Giving BackTax BenefitsLeaderboard2019Product UpdatesFixed Indexed AnnuitiesMillennialsquotingBrand ValuesComplianceBeneficiaryAlternative InvestmentsLife Insurance BrokershiringproductsCharitable Givinggulnon-medVariable AnnuitiesDonationterm lifenetworking