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Millennials and Gen Z Drive Surge in Life Insurance Interest Through Social Media

In a period marked by economic uncertainty, there’s been a notable uptick in consumer interest in life insurance.

This surge is attributed to the accessibility of financial education on social media platforms, particularly among Millennials and Gen Z, who turn to channels like YouTube and TikTok to expand their financial literacy. According to Bryan Simms, co-founder and president of Mammoth Life and Reinsurance Company, this shift in behavior has democratized complex financial concepts, empowering a younger demographic to make informed decisions about their financial future.

Data from MIB Group reveals a significant increase in life insurance applications, predominantly driven by individuals under 50, highlighting the impact of social media on reshaping consumer behaviors. Simms underscores the pivotal role of these platforms in not only simplifying financial concepts but also in broadening the reach of financial professionals, signaling a paradigm shift in how financial services are accessed and understood.