For decades, many people have looked at life insurance as having one job: protect your loved ones if the unthinkable happened. Important? Of course. But exciting? Not really.
Fast forward to today, and the game has changed. Families aren't just asking "what if?" - they're asking "what now?". They want financial tools that help them right now with everyday expenses, surprise curveballs, and long-term planning.
And honestly, who can blame them? With inflation, rising costs, and constant uncertainty, people need more than a safety net. They need something that feels like a real part of their financial wellness toolkit.
Open enrollment equals the perfect moment
Every fall, many Americans are already in decision-making mode during workplace open enrollment. They're scanning benefits, comparing costs, and trying to figure out what actually makes sense for their families.
This is our industry's big moment. Instead of dusting off the same old "protect your loved ones" line, insurers and employers can highlight what's new:
- Living benefits
- Flexible policy options
- Easy, digital-first enrollment
These aren't boring updates — they're the features that make life insurance meet where customers are today. These updates make coverage more accessible and more relevant to today's workforce, while open enrollment awareness efforts help reinforce the value of proactive planning — before a crisis occurs.
From "what if" to "what now"
Traditionally, life insurance only answered "what if?" Now it needs to answer "what now?" to help customers better understand how it may help them when the time comes:
- What now if my medical bills pile up?
- What now if my paycheck suddenly stops?
- What now if an accident happens and my health insurance won't cover all the hospital fees?
Thanks to messaging more focused on how life insurance applies to customers' lives, and more digital resources, coverage is easier to understand, buy, and actually use. What does this mean? It's shifting life insurance out of the future problem category and into everyday financial wellness.
Closing the gaps
Millions of families are still uninsured or underinsured. We can see this
We don't need to lead with more education about what life insurance is. We need to give people more confidence in understanding what has historically been confusing about what it does for them. Digital tools can be helpful, but they are more likely to work better when paired with trusted insights from employers and advisors. Together, they can help people see their risks clearly and make decisions during open enrollment that apply more directly to their needs.
Living Benefits
One of the interesting elements in our industry that might make an impact with consumers? Living benefits.
Living benefits are the parts of a life insurance policy customers may be able to use while they're alive, depending on the product and terms of the policy — like tapping into their coverage if they get sick, are disabled, or need cash for major expenses.
Suddenly life insurance feels a lot more like a modern financial tool and a lot less like a just in case product.
Looking ahead
The takeaway is simple: life insurance should continue to evolve if it wants to stay relevant. It's not about abandoning protection — it's about adding flexibility, accessibility, and immediate value.
If the industry can embrace living benefits, tackle coverage gaps, and deliver everything through digital tools people want to use, this may have an effect that could possibly shift life insurance to a resource families count on every day, not just in a worst-case scenario.
And for the millions of Americans still underinsured? This means the opportunity to help all these people out is right here, right now.
