Every credit union is looking for ways to attract more next generation (next gen) members. After all, more than half of all Americans are of Millennial age or younger,1 and the credit union system’s future growth depends on connecting with this demographic.
One way to do that? Let them know you understand what they’re up against and can connect them to products that can help make a difference. After all, Millennials are dealing with a host of challenges—including student loan debt and two financial crises during the early years of their careers, the 2008 recession, and COVID-19. Life insurance might play a role in helping Millennials regain a sense of control over their financial life.
COVID has given younger consumers a new appreciation of life insurance…
According to the 2021 Insurance Barometer Study from Life Happens and LIMRA,2 45% of Millennial consumers (which they define as those ages 22-40) are more likely to buy life insurance because of the pandemic vs. 31% of adults overall.2 Their level of interest is no surprise: After all, COVID has forced many Americans to deal with end-of-life issues, and Millennials are just reaching milestones like marriage and parenthood, which often get people thinking about life insurance.
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