• September 30, 2011

Life insurance companies are missing the opportunity to acquire customers under age 45, which as a group are underinsured, according to Chicago-based Mintel Comperemedia.

This is partially a function of marketing activities, according to Mintel. When carriers market life insurance directly to consumers, they overwhelmingly continue to target those over the age of 45 -- effectively alienating other potentially lucrative demographics.

The 46 and older age bracket saw 85% of the direct mail volume in the first six months of 2011, up from 81% for the same period in 2010. Conversely, the age 18-45 bracket saw 15% of the direct mail volume in the first six months of 2011, down from 19% for the same period in 2010. The 65 and up age bracket had a 28% share of direct marketing mail volume for the first six months of 2011, unchanged from the same period in 2010, according to Mintel.

Meanwhile, consumers between the ages of 31-45 received a 13% share of direct marking mail volume for the first six months of 2011, down from a 16% share for the same period in 2010.--Tanya Irwin