Marriage, children, and stability once drove people to buy life insurance. But for Gen Z, those milestones are being delayed or abandoned, and so is the traditional appeal of policies.

A global survey shows that while 68% of under-40s believe life insurance is important, most don’t buy it. The reasons? Products feel misaligned with modern lifestyles (32%), too expensive (28%), and offer little immediate benefit (25%).

Instead of death payouts, younger consumers want living benefits, financial help for emergencies, wellness rewards, fertility coverage, and policies that move with them across jobs. Nearly 44% demand portable coverage, but fewer than 20% of insurers offer it.

Digital expectations add to the gap: 77% of Gen Z want personalized recommendations, but only 16% of insurers deliver. Without modernization, insurers risk losing the very generation poised to inherit massive wealth in the next two decades.

The path forward? Innovation, personalization, and partnerships. Insurers must shift from jargon-heavy, rigid policies to flexible, digital-first products that deliver everyday value. The winners will be those who make protection relevant, rewarding, and real for today’s youth.