Generation X, those between the ages of 47 and 32, now represent larger sales potential, $3.6 trillion in a 12 month period, than baby boomers, at $2.2 trillion, and generation Y, at $0.3 trillion, according to “Life insurers cast the net wider for growth: Enter Gen X,” a white paper from Deloitte.
“Carriers should now reconsider the scant attention paid to this formerly discounted, underinsured and underpenetrated generation,” Deloitte said. “While at first glance it may seem that the pursuit of this segment necessitates more resources than other generations, Xers’ high brand loyalty is very likely to help defray the initial acquisition cost through additional product sales over time.”
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