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Report: Life Insurance not promoted to younger crowd

Posted On Tue, October 4, 2011

A recent report from Mintel Comperemedia showed that a significant percentage of those under the age of 45 do not have proper life insurance.

Life insurance companies dedicated 85 percent of direct mail volume to those 46 years of age and older during the first half of 2011, which was slightly more than the 81 percent seen during the first six months of 2010. Those between the ages of 31-45 had 13 percent of the mail volume, which was slightly lower than 2010's first six months, which was a 16 percent share, the report noted

"Broadly speaking, the 31-45 age group consists of the folks most in need of life insurance, and carriers are missing an opportunity by not marketing to them directly," said Gary Wooley, director of insurance consulting at Mintel Comperemedia. "They are interested, but they need more information and a call to action."

The 18-45 age group overall, only earned 15 percent of the volume, the report added.

Consumers looking for life insurance may want to take initiative on their own, and compare quotes to find the best life insurance rates possible.

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