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A Hidden Danger in the Gig Economy

Oct 01

Millennial working freelance in coffee shop

The Gig Economy or Freelance Economy has become the norm for many workers. According to a recent survey, more than 53 million Americans are doing freelance work. That’s 34% of the entire workforce. And no one is embracing freelancing more than Millennials. A full 69% of Millennials surveyed said they would prefer to freelance provided they could find enough projects to earn the salary they want.

Yet for all the flexibility and freedom, freelancers miss out on traditional corporate benefits. And while most freelancers understand the need to purchase individual health coverage, another key piece of their safety net remains off the radar –life insurance.

Reports show that only 34% of adult Millennials own an individual life policy. Yet 55% are already married or in a domestic partnership. Among older Millennials, between ages 25-34, there are now 10.8 million households with children. Unless these families proactively take steps to protect themselves, they remain vulnerable to financial disaster.

How can insurers raise awareness of the need for life insurance? How can they break though when Millennials have become so resistant to traditional advertising approaches? The answers to these and other questions can be found in our new ebook, The Essential Guide to Marketing Life Insurance to Millennials. Download your copy today.

If you would to tap our expert guidance, contact Mark Silverman for a free, custom consultation.

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