The Life Insurance Marketing Challenge

We recently met with a well-known insurer that told us that less people are purchasing life insurance, and I couldn’t help but wonder whether people getting married and having kids at a later stage in life (or not at all) has something to do with it.


As a young person with no kids, I’ve been thinking about getting life insurance, but I haven’t. Insurance is a rational purchase, and my rationale for not purchasing life insurance is rooted in the fact that I have no kids. Reality is that most life insurance ads revolve around ‘family’ and they lost me. Have a look:



This advertising strategy could be problematic, as people wait longer to get married and start a family, while some don’t get married or have kids at all. This makes me wonder – what’s the point of great websites for the tech-savvy when the message is wrong? How can we expect to deliver the importance of life insurance with a picture of a family to a person that is single and has no dependents? Point is, unlike other insurance products that can be marketed with a single message, life insurance is bought for different reasons, and at this age of personalization, we should market life insurance for different lifestyles.


A Different Approach to Life Insurance

Play (sound – optional).


Think: here’s a life insurer (Thai Life Insurance) that doesn’t talk about family. Instead, the ad shows a young man that gives the little he has, to complete strangers. The world needs more people like this, and life insurance companies could help. BTW, that’s Thai Life’s most popular YouTube ad; enjoying over 31M views.


Know Your Audience

Most young people are under a lot of pressure to “make it”. To help, there’s this guy that tells them to crush it. I don’t know about you, but the only thing I’ve ever crushed in my life was soda cans, and even then I had to make sure they were empty. The age of social media made their small world even smaller and they are constantly looking at the greener grass on the other side, even when it’s synthetic grass. They’re very social, but only online. They don’t care much for brands, but they’re all about trends. They’re open-minded, but only if it fits their agenda. They care. A lot. And they love to show it. Above all, they’re realistic – they know there’s a chance they’re not going to make it. Speaking of making it – they aren’t making it for themselves; it’s so they can do good for the world, because that’s what they’re all about.


Now that we understand the basics, how do you sell the most affordable life insurance policy (term life) to young people who have no kids and obviously can’t enjoy the money since they’ll be dead?


What if we market life insurance as a back up plan in case they don’t make it? You see, the biggest fear of struggling young people isn’t death, or being lonely, it’s not making it. Their biggest dream is to be successful and to do good. So, why don’t we talk to them about their dreams and offer them a back up plan (life insurance) just in case they don’t make it?


To give you a feel for the concept, we created some ads below.