1. Discuss life insurance with your younger clients. The COVID-19 pandemic has impacted Americans at every age. However, younger Americans are now eager to purchase policies. Thus, increasing sales opportunities for experts in our industry and aiding in the decrease of the uninsured. Reach out to your younger clients, or approach current clients with advertisements illustrating the importance of life insurance during all stages of life.
2. Ease Your Process. How easy it for your clients to discuss their finances with you, receive and sign documents? Younger generations have proven to excel at the technological requirements that the pandemic has forced us to master in order to stay safe. However, is your digital landscape user friendly to all? Focusing on easing your process from start to finish will enable clients to sign up for newer/better policies much easily, thus closing the coverage gap.
3. Utilize Social Media. According to LIMRA research, most people shop for life insurance after a major life event such as buying a house, getting married, losing a loved one, or having a baby. Many see their financial advisor as a trusted member of the family or friend, meaning they are more likely to be connected to clients via social media. Moreover, research shows 87% of consumers say they use the internet to research life insurance and 40% of consumers say they are likely to check an agent’s social media presence. If you break that down to just Millennials, 57% say they are likely to check an advisor’s presence on these platforms. Make sure that you reach out and connect with clients on their social accounts and reach out when they experience major life events that would put them in market for life insurance.

For more information on the Help Protect Our Families campaign and how to help close the life insurance coverage gap, visit, www.limra.com/helpprotectourfamilies.