How to Market Life Insurance for the Modern Consumer (2024)

If you’re a life insurance agent struggling to market your product, here are some great ways to market life insurance to the modern consumer.

Living in the unstable times that we do, nothing is guaranteed. Costs are rising; risks are all around us, and life is unpredictable. With this instability surrounding us, many people turn to insurance companies to give them the safety net they need.

Life insurance is the precaution many need to take to live a life with less worry about the future and their loved ones. As an insurance provider, you are responsible for providing people with the reassurance they need to live confidently, sure that they and their families will be cared for in the event of the worst.

However, as the costs of living rise, priorities are getting tougher to organize, and insurance costs are heading further down the list.

So, what can you do to make people realize how important life insurance is? Help your potential prospects truly appreciate the benefits of getting life insurance, and you’ll feel the benefits too.

Why Marketing is So Important in the First Place

As a life insurance agent, it seems obvious to you why life insurance is so important, but to the everyday person, the importance is not as obvious, and it feels too complex to understand.

For example, a non-profit organization Life Happens, showed that 62 percent of people who felt that they fully understood life insurance paid for coverage.

On the other hand, only 17 percent of people who didn’t feel confident in their life insurance knowledge had coverage. Knowledge is key. For this reason, you need to take the initiative to get your message out and clear it to your listeners.

Marketing allows you to reach new leads and build a reliable and trustworthy image. When you put the needed time and energy into your marketing strategy, you’ll see the results in your increase in your leads and closed deals.

Marketing is the fuel in your business engine so give it all you’ve got, and you’re sure to go far. No matter the quality of your products and prices, if no one knows about them, they’re not going to do you any good!

Now you know just how important life insurance marketing ideas are, what can you do to achieve them? Let’s consider a few useful suggestions to market life insurance for the modern consumer:

1. Make a plan and have a budget

Before you jump into anything, ensure you have all the data and information you need to make good, informed decisions. You have your company's future in your hands, so it pays to be thorough and cautious before committing to any marking journey you may regret. What are your business goals?

Who is your preferred audience to target? What makes you stand out from the crowd? What resources do you have that you can use in this endeavor? What channels are you going to choose to reach your goals? These are just some of the important questions you need to think about and consider with your trusted team before you plow on ahead.

2. Use online marketing channels

The internet is the future, and if you don’t use the online marketing tools and channels available today, you will fall behind the competition. You could try your hand at reels on Instagram, ads on Facebook, and even an informative comedic sketch on TikTok if you want to get the youths involved! Each channel has its own perks and struggles, and each will attract a different kind of audience.

With the knowledge of your brand and product and the market you want to target, you can decide which channel will be best for you. Many social media marketing tools are free, so you can save money by making the most of those.

3. Have a clear message in mind

Before your customers can understand your message, you need to be able to express it in a clear and concise way.

Concentrate your efforts on devising a marketing strategy that will educate and inform in a memorable way to help potential clients understand the benefits they will enjoy once they have life insurance cover and, most importantly, why they should buy it from you.

If you don’t believe in your message, neither will your listeners, so be confident in your approach without becoming condescending or overbearing.

4. Come with an offer that’s too good to refuse

Devise plans for an offer that compels people to listen to you and buy life insurance from you. Be transparent about the costs but be firm in your convictions over the benefits.

Market your business consistently and regularly without becoming annoying and pushy.

There’s a fine line to walk when it comes to the art of marketing, but when you take the time to do it, you’ll be glad you did in the end.

5. Create a brand and stick to it

Branding is more than just fonts, logos, and color schemes. Branding involves your story, message, mottos and motives, and the personal touch that will make you unique and compel prospects to choose you.

From the outset, establish a brand strategy and remain loyal to it.

From the off, people need to know who you are and what you stand for, so it pays to take some time out initially to get this right.

Succeeding as a Life Insurance Provider

In conclusion, try and get a bigger perspective on marketing life insurance policies and products. Rather than focusing on the here and now, readjust and look at the bigger picture. Choose to focus on customer loyalty, designing a brand and business that will stand the tests of time.