{"id":5590,"date":"2025-03-19T08:57:49","date_gmt":"2025-03-19T13:57:49","guid":{"rendered":"https:\/\/www.ncultheaffiliate.com\/?p=5590"},"modified":"2025-03-19T08:58:38","modified_gmt":"2025-03-19T13:58:38","slug":"this-group-surprisingly-wants-life-insurance","status":"publish","type":"post","link":"https:\/\/www.ncultheaffiliate.com\/?p=5590","title":{"rendered":"This Group, Surprisingly, Wants Life Insurance"},"content":{"rendered":"

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A new study reveals that 39% of consumers plan to purchase life insurance in the next 12 months, and a high percentage of those people could be, surprisingly, Gen Z.<\/p>\n

TruStage spoke with CUToday.info about this growing non-interest income opportunity for credit unions, but added Gen Z will need a little push from cooperatives to secure this business.<\/p>\n

Citing data from a 2024 LIMRA survey, Samantha Ziesemer, director of digital storefront product management at TruStage, said it\u2019s a great time for Gen Z to consider life insurance, due to locking in a premium at a lower rate,<\/p>\n

\u201cThis is a good opportunity for Gen Z, but, unfortunately, Gen Z may not be understanding this,\u201d Ziesemer said. \u201cAn insurance trade association survey in 2023 showed a surprisingly high number of Gen Z respondents that said they were interested in buying life insurance, and were planning to buy it in the next five years. But when asked a follow-up question\u2014\u2018Why haven’t you?\u2019\u201437% responded they just haven’t gotten around to it. That’s the problem.\u201d<\/p>\n

Ziesemer said the issue for credit unions is how do they position their life insurance offering in a way that is engaging with Gen Z, and so they better understand the different life insurance products available and consider taking the next step.<\/p>\n

\u201cWe were surprised by the number of Gen Z who responded they were planning to purchase life insurance,\u201d acknowledged Ziesemer. \u201cWhen we think of younger demographics, there’s kind of an oversimplification. We think, well, they’re not thinking about their own mortality or legacy planning. This isn’t going to be top of mind. But now we know it is.\u201d<\/p>\n

What is driving greater interest among Gen Z in purchasing life insurance over the last two years, Ziesemer said, is growing economic insecurity.<\/p>\n

Top-Of-Mind Interest<\/strong><\/p>\n

\u201cAnd it is reaching all the way down the younger demographics, all the way down to Gen Z,\u201d she said. \u201cSo, it’s not just the older generations that are feeling this insecurity around their economic status. That\u2019s what’s driving a lot of this top-of-mind interest in life insurance among Gen Z.\u201d<\/p>\n

TruStage is working with its credit union partners to help them understand that talking to Gen Z about life insurance through typical advertising channels, such as direct mail, is not the only answer.<\/p>\n

\u201cCredit unions need to meet their Gen Z members where they’re at,\u201d she said. \u201cIf you think about it, the vast majority of Gen Z are interacting with their credit union digitally, either through their mobile app or through their online banking platform. So, how do we position products that are going to resonate with Gen Z? How do we position that product in a way that it is visible and understood by Gen Z and encourages them to take that next step?\u201d<\/p>\n

That means interacting with them when they accomplish daily tasks, like checking account balances, transferring money or making a bill payment, Ziesemer said.<\/p>\n

\u201cIt\u2019s taking those opportunities and positioning life insurance products, at that point of engagement,\u201d she reiterated.<\/p>\n

Ziesemer said TruStage offers a solution that personalizes offers and services to credit union members.<\/p>\n

\u201cSo, it’s front and center when they’re logging into their home banking. Life insurance is one of those offers that we promote,\u201d she said. \u201cGen Z is in a prime position to get life insurance today. It\u2019s really important now to try to educate them, to say, hey, before you have obligations in the future\u2014kids, spouses, partners that you are looking to protect with a life insurance policy\u2014now is the time to consider it. Do it while you’re younger and get a better quote coming back.<\/p>\n

\u201cWe think about life insurance as something you consider once you have those obligations,\u201d continued Ziesemer. \u201cBut Gen Z has a prime opportunity to lock in a rate since they are younger, before they get all those obligations. Economically it makes much more sense.\u201d But added Gen Z will need a little push from cooperatives to secure this business.<\/p>\n

 <\/p>\n

\"\"TruStageTM<\/sup> is the marketing name for TruStage Financial Group, Inc. its subsidiaries and affiliates. Corporate headquarters are located in Madison, Wis.\u202f\u202f<\/p>\n

[\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section]<\/p>\n ","protected":false},"excerpt":{"rendered":"

[et_pb_section fb_built=”1″ _builder_version=”4.9.4″ _module_preset=”default” custom_padding=”1px|||||”][et_pb_row _builder_version=”4.9.4″ _module_preset=”default” custom_padding=”0px|||||”][et_pb_column type=”4_4″ _builder_version=”4.9.4″ _module_preset=”default”][et_pb_text _builder_version=”4.9.4″ _module_preset=”default”] A new study reveals that 39% of consumers plan to purchase life insurance in the next 12 months, and a high percentage of those people could be, surprisingly, Gen Z. TruStage spoke with CUToday.info about this growing non-interest income opportunity for credit […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"on","_et_pb_old_content":"","_et_gb_content_width":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/www.ncultheaffiliate.com\/index.php?rest_route=\/wp\/v2\/posts\/5590"}],"collection":[{"href":"https:\/\/www.ncultheaffiliate.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ncultheaffiliate.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ncultheaffiliate.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ncultheaffiliate.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=5590"}],"version-history":[{"count":0,"href":"https:\/\/www.ncultheaffiliate.com\/index.php?rest_route=\/wp\/v2\/posts\/5590\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ncultheaffiliate.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5590"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ncultheaffiliate.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5590"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ncultheaffiliate.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5590"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}