How to Sell Life Insurance to Generation Z

Find out how to sell life insurance to a generation that isn’t even thinking about it… at least they aren’t yet.

Selling life insurance to Generation Z can be a daunting task, but with the right strategies and tactics, it is definitely achievable. As this generation moves into adulthood, they are increasingly becoming more aware of how important having adequate life insurance coverage can be. Therefore, salespeople must understand how best to approach Gen Z in order to have successful conversations and ultimately close deals on life insurance policies. First, though, you need to understand how to sell life insurance to a generation whose needs are different from other generations and what approaches work best when engaging them.

Generation Z is the demographic cohort born between 1997 and 2013. This generation has grown up in a digital world, with access to technology that previous generations could not imagine. As such, they understand how technology works and how it can be used to their advantage. Gen Zers are often more open-minded than other generations, embracing diversity and accepting different lifestyles. They are independent thinkers with strong opinions on social issues and politics. Furthermore, they value experiences over possessions, making them ideal customers for life insurance policies as they understand how important it is to protect their future earnings and financial stability.

How to sell life insurance to the digital generation

When selling life insurance to Gen Z, it’s essential to understand that they are very practical in their decision-making processes and value the convenience of online shopping. Therefore, salespeople should emphasize how easy it is to get a life insurance policy online and how the process can be completed quickly. Additionally, marketing materials such as videos or interactive quizzes can engage Gen Z and help them understand how a life insurance policy would benefit them.

It is also essential to remember that Gen Z values transparency, so it is important to clearly explain how premiums are calculated and how the coverage amounts differ between policies. Salespeople should also emphasize how affordable life insurance can be and how having adequate coverage can provide peace of mind.

Having a phone app when selling life insurance to Generation Z can be incredibly advantageous. As this generation has grown up in a digital world and values convenience, having an app available makes the process of shopping and buying life insurance much easier. Having access to an app also makes it easier for Gen Zers to compare different policies, review coverage options, and make informed decisions.

Text messaging is an important communication tool for Generation Z, as it allows them to quickly send and receive information in a convenient way. This generation values convenience, so having access to text messages can help them stay informed about their life insurance policies and how much coverage they need. Texting also provides an opportunity for Gen Zers to ask questions or seek advice from salespeople in a timely manner. Additionally, texts are often more personal than emails or phone calls, which can be beneficial when building relationships with potential customers.

Cross-selling life insurance to the parents of Generation Z can be another great way to increase sales and create long-term relationships with customers. The key is understanding how this generation’s needs are different from their parents, and how to use that knowledge to your advantage. Parents of Gen Zers may be more financially secure than their children, making them attractive potential customers for life insurance policies. Additionally, cross-selling products such as disability or long-term care insurance can provide additional peace of mind for these older generations who may have concerns about how they will manage in retirement. By focusing on how you can help protect the financial future of both parent and child, you can create an emotional connection with potential customers that will result in increased sales over time.

Referring customers to life insurance products is still a great way to engage Generation Z. Referrals can provide an opportunity for salespeople to build relationships with potential customers and establish trust. Gen Zers value honesty in their interactions, so referrals from friends or family members can help demonstrate how the product works and how it could benefit them. Furthermore, referring customers provides an incentive for both parties involved as they will be rewarded with discounts when the referral results in a successful sale.

Finally, it is important to remember that Gen Z is highly influenced by their peers and values their opinion. Therefore, salespeople should take advantage of social media platforms to target Gen Z and showcase how other people in their age group are benefiting from life insurance policies.