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TCOB: Understanding the preferences of different generations in purchasing life insurance

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Recent data from ASISA Gap Study found that individuals aged between 30 and 39 (Millennials) years often find themselves underinsured by an average of R1.4 million. Unlike previous generations, Millennials and Gen Z in South Africa are delaying major life milestones such as marriage, parenthood, and property ownership. These delays have, in turn, translate into a later uptake of life insurance.

Wandile Mazibuko spoke to Steve Piper who is the Head of Underwritten Intermediary Sales at Hollard Life Solutions to look into the notable disparity that continues to emerge in the buying habits and preferences of the Millennials and Gen Z generation

24 Jun 2024 English South Africa Business News

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