High housing costs and stagnant wages are causing Gen Z and Millennials to delay marriage, homeownership, and parenthood, per a Capgemini and LIMRA study. And while 68% of these younger adults see life insurance as “essential for a healthy financial future,” current products aren’t resonating. Advertising messaging must close the gap in consumers’ understanding of life insurance benefits. To do this, targeted ads and communications must highlight living benefits and flexibility, offer low-cost, entry-level options and incentives, and engage consumers digitally.

Only about a third of Gen Zers and Millennials say they’re in good financial health—and roughly the same share say they’re good at setting up and following long-term financial plans, per a new study by Guardian Life. Younger consumers’ lack of confidence and limited use of professional guidance creates an opening. Insurers can position guaranteed savings and lower-risk wealth-building products as options to ease financial anxiety and support long-term planning. Such products include: whole life insurance which offers steady cash value growth and loan access, and indexed universal life which ties growth to market indexes with downside protection.

Deposits are moving out of community financial institutions (FIs) and into crypto exchanges—from 1% per month 18 months ago to 5% today, per PYMNTS. Instead of chasing these funds by trying to become more like crypto apps, community FIs are increasingly offering stablecoin products. Smaller FIs must not lose sight of what makes them stand out: human centricity, local knowledge, and customer service. By incorporating new technologies and digital currencies into their everyday offerings—instead of reinventing themselves—FIs can remain grounded in those differentiators while still potentially appealing to digital-first demographics.