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US Life Insurance Consumer Habits 2024

How Insurers Can Close Knowledge Gaps and Win New Policyholders

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About This Report
The number of US life insurance policyholders is set to decline in the next few years. Understanding roadblocks to coverage in untapped and growing markets can help insurers right the ship.
Table of Contents

Key groups of US consumers face roadblocks to understanding and committing to life insurance products. Insurers that build the right marketing campaigns can bridge these gaps and grow their customer bases.

Key Question: What is preventing prospective customers from purchasing life insurance, and how can marketers address it?

Key Stat: The number of US life insurance policyholders will remain stagnant over the next two years, per our forecast, unless insurers can help consumers understand why they should commit to purchasing coverage.

Here’s what’s in the full report

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Table of Contents

  1. Executive Summary
  2. US life insurers must bridge a significant knowledge gap to capitalize on a major customer acquisition opportunity
  3. Consumers don’t understand how life insurance can fit into their budgets
  1. Gen Zers and millennials don’t know why they should buy life insurance now rather than later
  2. The life insurance coverage gender gap will continue to widen if marketing tactics aren’t adjusted
  3. Sources
  1. Media Gallery

authors

Lauren Ashcraft

Contributors

Suzy Davidkhanian
Principal Analyst, Retail & Ecommerce
Tiffani Montez
Principal Analyst, Banking
Amy Rotondo
Director, US Research
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