Article Abstract:
Life insurance companies are not targeting the Generation X population as aggressively as they pursue affluent baby boomers. Generation X is composed of 41 million people born between 1965 and 1976. Some executives suggest that life insurance needs to be more flexible and user-friendly before generation X consumers will buy. Generation X consumers also do not believe that Social Security will provide retirement funds and are very interested in long-term financial planning.
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Article Abstract:
Interest in life insurance products is growing with the aging of the baby boom generation, and life insurers are coming up with new retirement products to meet the demand. The Assn of Insurance and Financial Analysts reported that the number of people retiring each year will rise from 1.9 million in 1995 to 3.6 million in 2010. The American Council of Life Insurance reported that annuity sales alone rose 259% in total premiums between 1984 and 1994.
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Article Abstract:
The Life & Health Insurance Foundation for Education is conducting an advertising campaign to focus on the death benefits of life insurance, rather than the cash accumulation benefits stressed in the 1980s. Such life insurance companies as Prudential Insurance Co. of America and Metropolitan Life Insurance Co have already made contributions to the campaign, and others are expected to follow.
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