UNDERSTANDING
The Gen Y Prospect
Members of Generation Y represent a huge opportunity for life insurance producers,
but only if they’re approached the right way. Hint: Technology is your best friend.
By Alan Lurty
For many life producers, the Generation Y market segment, comprising those born between 1978 and 1994, represents a singular paradox. This younger
generation represents a massive business opportunity with a substantial
lifetime value. With approximately 70
million people, it is the largest generation since the baby boomers. Yet, those
in Generation Y communicate and do
business in unique ways, which can
make them elusive as prospective life
insurance buyers.
Editor’s note: There is no single
universally accepted range of years to
define when members of Gen Y or the
Millennial Generation were born. Us-
ing different time periods can greatly
alter the generation’s total population.
