A new survey reveals that 70 percent of millennials prefer to buy life insurance online rather than through an agent
New York, NY (June 2, 2016) – Life Ant, a company that specializes in providing life insurance quotes, recently announced the release of its latest article, “Millennials Changing The Way Life Insurance Is Bought,” which explains that millennials will most likely revolutionize the life insurance industry by buying their life insurance policies online.
In a recent survey conducted by Life Ant, nearly 70 percent of participants between 18 and 39 said that they would look for life insurance policies online before they consulted a financial advisor. Sixty percent of participants who were 40 and older stated that they were more likely to visit a financial advisor to purchase a policy instead of using an online source. According to the article, this is because the current generation is getting older, becoming more established, making more money, and starting their families – but still retaining their need to be more efficient in their everyday lives.
“As this happens, the supply of clients for life insurance agents will dwindle, and the supply of clients looking to buy life insurance online will increase significantly,” stated Life Ant. “This could mean that the future of life insurance agents is not bright unless they adapt. The younger millennial generation has much more trust in current online resources.”
Based on the survey results, Life Ant concluded that the life insurance industry needed to prepare itself for some drastic changes, including steep declines in business. Life insurance agents may need to change the way that they operate, especially because the old models will not last as technology advances. To provide better online life insurance services, Life Ant recommends that companies offer extensive educational material, high quality needs calculators, and other informative resources.
Individuals interested in learning more about Life Ant and its services can visit the company’s website for additional information.
About Life Ant
Life Ant, established in 2013 by financial advisor Thomas Rockford, helps clients connect with affordable life insurance coverage. Life Ant has provided over a million life insurance quotes since its inception.
For more information, visit www.lifeant.com.
SOURCE: Life Ant