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Many Gen Y'ers interested in using the internet to purchase life insurancePosted On Wed, July 7, 2010
Consumers born between 1979 and 1994, "Generation Y," are knowledgeable about life insurance, but they are going to go about learning and purchasing a policy on their own terms, according to research from Prudential Individual Life Insurance.
Almost 70 percent of those surveyed said that they have plans to purchase life insurance within the next three years, the survey found. Even though more than half of survey respondents said that they may purchase a policy online, they would still want to discuss the plan with an agent beforehand.
Given that the internet has become an integral part of many people's lives, Prudential Individual Life Insurance senior vice president Joan Cleveland said she isn't surprised that Gen Y'ers would use the platform to purchase a life insurance policy.
"When people put Gen Y and the internet in the same sentence, they automatically think social networking," says Cleveland. "But that is only one part of the equation, so we'll leave it up to them to drive the process and tell us where else we need to go."
Life insurance isn't something that is just needed by older adults. People of any age can have dependents that may benefit from having a policy.
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