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 As younger generations enter the workforce, advisors should look to millennials and Gen Z — especially those with income-earning career potential of $100,000 or more — as promising sales targets. Understanding the needs of your client, regardless of their age, is the first step toward starting a conversation about the benefits of income protection. It’s a common misconception that individual disability insurance (IDI) is only valuable for professionals who are further along in their careers.

Understanding the next generation of IDI purchasers Everyone has their own income protection needs. Millennials and Gen Z have unique characteristics that impact the way they approach insurance and disability. Millennials are those born roughly between 1980-1996, including new college graduates as well as established career individuals. Millennials are currently navigating some of life’s major milestones for the first time: marriage, home-buying and, for some, entering the workforce.

Comparatively, Gen Z is the generation born between 1996-2010, with some graduating from college and entering the workforce next year. Sometimes called “digital natives” or “centennials,” Gen Z is the first generation to not know life before the internet. As such, they are extremely tech-savvy, and are often seeking out careers that meet their skill sets and earning potential.

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