The trend: The number of global consumers ages 65 and older will double by 2050, and the concentration of wealth among this population will keep growing as well, per McKinsey’s “Global Insurance Report 2025.”
Life insurers must be ready to meet this group’s needs with specialized products.
What they need: According to the report, there are a few key products that could resonate with aging consumers.
The knowledge gap: While many life insurers already offer products like these, there’s often a gap in product awareness among consumers who could benefit from them the most.
What this means for life insurers: Offering products that help aging consumers catch up on retirement and accomplish multiple goals at once can help issuers meet this growing demographic’s needs.
They must be prepared with simple marketing campaigns that explain how they help clients solve their specific problems—while also providing transparency around pricing and how to apply.
This article is part of EMARKETER’s client-only subscription Briefings—daily newsletters authored by industry analysts who are experts in marketing, advertising, media, and tech trends. To help you finish 2024 strong, and start 2025 off on the right foot, articles like this one—delivering the latest news and insights—are completely free through January 31, 2025. If you want to learn how to get insights like these delivered to your inbox every day, and get access to our data-driven forecasts, reports, and industry benchmarks, schedule a demo with our sales team.