Life insurance confusion is pricing out a generation

Gen Z and younger adults are disproportionately deterred by complexity and lack of transparency in the life insurance application and pricing process. Fourteen percent of consumers don’t know where to begin or who to trust when researching life insurance. Twenty-four percent are unsure how personal circumstances like occupation affect policy quotes, while 11% don’t even realize those factors are considered. A third worry life insurance will be too expensive, and 21% doubt insurers will pay out. Fourteen percent find the application process overwhelming—23% among Gen Z. Adults aged 18 to 34 are more likely to feel lost at the starting line (20%) than those 35 to 54 (15%) or 55 and older (8%). Millennials and Gen X report the highest budget concerns at 36% each. When quotes shift or underwriting questions lack explanation, uncertainty takes root. For many young people, that uncertainty is enough to delay or abandon coverage—even when they understand its value.