The data collected by a new research study may hold profound consequences for the life insurance industry's standard business model. According to the survey recently conducted by insurance analyst Life Ant, an overwhelming percentage of millennials would prefer to shop for policies over the internet rather than speak with a specialist.

The study determined more than 68 percent of those aged 18 to 39 agree with the statement, "I would use a good online solution to compare choices and buy it myself," while only 30 percent would opt to purchase coverage "from a financial advisor, just like it's always been done."

These findings run in sharp contrast to the opinions offered by older consumers during the same investigation. Participants over 40 were split nearly evenly on the question of whether or not they would feel comfortable selecting life insurance through an e-marketplace. Although this attitude confirms the fundamental assumptions that have historically guided the industry, life insurance companies depending solely upon an aging client base face an obvious dilemma.

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