Why isn’t Gen Z buying insurance?
June 18, 2025 by Strategic Intelligence
s Gen Z comes of age, it is quickly becoming one of the most influential consumer groups in the global economy. Born between 1997 and 2012, this digital-native generation is known for its tech savviness, pragmatic approach to money, and social consciousness. But one sector that is still struggling to capture its attention is insurance.
A generation on the sidelines of insurance
A 2024 study by the National Association of Insurance Commissioners (NAIC) found that fewer than 21% of Gen Z adults carry renters insurance. Life insurance rates are even lower. A study conducted by Smart Money People in March 2024 revealed that Gen Z falls behind other generations when it comes to key insurance products. Only 5% have contents insurance, 24% have life insurance, and 30% have travel insurance. This disengagement stems from more than just apathy. Gen Z is navigating an unstable job market and a challenging economic reality, from rising housing costs to student debt. In this environment, insurance can seem like a luxury or merely something to think about later.
Read via Life Insurance International
