Life insurance applications from adults aged 28 to 42 have increased by 22 percent year-over-year according to new industry data released this week. Financial advisors attribute the trend to growing family formation and mortgage commitments.
Digital-first insurers offering simplified underwriting and instant approvals are capturing the lion's share of this demographic. Traditional carriers are scrambling to modernize their application processes in response.
Term life policies of 20 and 30 years remain the most popular products among younger applicants seeking affordable long-term protection.
