Why Flexibility Matters: What Today's Life Insurance Consumers Are Really Looking For

At Smart Money Financial, we are constantly evolving to meet the needs of today’s clients—those who are financially savvy, future-focused, and looking for life insurance that adapts to their lives. New research conducted by Zeldis Research Associates and commissioned by John Hancock reveals a powerful insight: consumers prefer life insurance products with lower costs and greater flexibility—even when that means lighter guarantees.

The Research Behind the Trend

In late 2024, Zeldis surveyed 399 consumers and conducted in-depth interviews with 26 recent or prospective buyers of permanent life insurance. The objective? To understand how guarantee durations influence purchasing decisions.

The results were clear:

• 50% of consumers initially preferred flexible policies with lighter guarantees.

• 89% chose flexibility over lifetime guarantees after receiving a full explanation of cost trade-offs and policy structure.

  
  

This is a pivotal moment for financial professionals—especially brokers working with partners like Smart Money Financial—to realign how we educate clients on modern life insurance products.

What Consumers Want—and What We Deliver

🔹 Lower Cost as the Hook Clients immediately respond to policies with reduced premiums. The perception of value increases when they learn they can receive the same death benefit at a lower long-term cost.

🔹 Cumulative Savings Over Decades Saving 10–15% annually over 30+ years translates into major cumulative gains—money that can be invested elsewhere. Many participants viewed this as the financially savvy choice.

🔹 Flexibility Means Control Consumers don’t want to feel “locked in.” They appreciate the ability to adjust premiums or coverage over time based on life changes—a hallmark of newer, flexible life insurance models.

🔹 Transparency Is Key When clients understand when and why premiums might change (e.g., post-guarantee period or due to market conditions), they feel empowered—not surprised.

🔹 Options Matter Perhaps most importantly, clients want options. Many survey participants said they would feel disappointed if they were only shown one product—highlighting the importance of presenting a full suite of solutions, especially those with lighter guarantees and more adaptability.

Smart Money Financial: Your Brokerage Partner for Modern Needs

At Smart Money Financial, our strength lies in our ability to equip advisors with the tools, products, and training they need to thrive in a changing landscape. We specialize in brokerage services that bring:

• A robust and diverse product lineup

• Advanced sales concepts for complex needs

• Flexible policy options that today’s clients prefer

• Competitive underwriting and unmatched service

  
  

Let’s Modernize the Conversation

It’s time to move beyond “one-size-fits-all” life insurance. Today’s clients are better informed, more engaged, and looking for financial solutions that align with their lives—not just traditional guarantees.

As your trusted brokerage partner, Smart Money Financial is here to help you guide clients through this new era of flexible, value-focused planning.

📩 Ready to expand your portfolio and better serve your clients? Contact us today to learn more.