Although millennials may not exactly fit what we think of as a traditional customer for life insurance coverage, they're known for being financially savvy and having an interest in protecting their financial future — two attributes that lend themselves to receiving sound financial guidance.

Whether they are risk adverse or simply see the value in planning for the future, there is great potential to connect with this demographic and have productive conversations about the many benefits life insurance can add to their long term financial goals.

While term life insurance doesn't immediately come to mind as a fresh or “innovative” solution, some new options within the category may make this financial vehicle more attractive to younger consumers who are looking for protection, but also have an eye toward needing flexibility as their circumstances change.