Life Insurance Firms Search for New Ways to Boost Education

The 2024 Insurance Barometer Study revealed a striking reality: 44% of people say they are only somewhat knowledgeable or not knowledgeable about life insurance. This lack of understanding remains one of the leading reasons individuals delay or avoid getting coverage altogether, which can result in turbulent situations down the line. To address this disconnect, life insurance issuers are rethinking their approach to education. Rather than relying only on product deep-dives, many insurers are beginning to offer a deeper, more dynamic suite of publicly available educational tools. In this post, we examine two primary methods that life insurance issuers are using to better educate and engage prospective customers and site visitors (as detailed in greater detail in our April report for Life Insurance Monitor).

Starting off, CI and outside research has consistently found that most site users scan website content rather than read it fully, and even short videos often go unwatched or unfinished. Insurers striving to best reach their audiences should implement a mix of educational formats. Lincoln Financial Group, for instance, doesn’t offer traditional educational articles on its public site but instead relies on a library of concise introductory videos that explain foundational topics like the difference between term and permanent life insurance or how tax benefits work.

Meanwhile, Northwestern Mutual complements its video content with interactive tools, such as a six-question quiz that not only tests users’ knowledge but also explains the correct answer when they respond incorrectly, transforming what normally would be a basic page interaction into a meaningful learning moment. These two firms show how insurers are moving beyond static content and using varied formats to connect with users who learn in different styles.

The importance of calculators and quote tools in giving life insurers ways to both educate users cannot be understated. When conducting the April report, our team found that exactly half of the covered insurers offered a life insurance needs calculator, and just under a half provided a quote tool, which helps users understand not just how much coverage they may need, but also how affordable it can be. It was also found the strongest calculators came from insurers such as Ethos, MassMutual, Northwestern Mutual and Prudential. Below, Northwestern Mutual highlights this approach with a calculator that delivers a personalized coverage estimate paired with clear context and an easy path to connect with an advisor.

Some insurers also went above and beyond with more niche tools. For example, Lincoln Financial Group and Pacific Life feature calculators that estimate how long returns from life insurance may last, while the Life Expectancy Calculator by John Hancock factors in everyday health and lifestyle details to provide a tailored estimate—then directs users towards relevant coverage options.

While it may seem simple, clearly labeling and placing educational resources where users can easily find or stumble upon them serves as the second crucial way insurers can drive engagement towards these features. Users typically access content through two main paths: findability—locating information they expect to find—and discoverability—encountering helpful content they didn’t know existed. Leading life insurers are able to support both by positioning educational materials in high-traffic areas and within relevant site paths. Remarkably, nearly all of insurers in our coverage set include links to education in the main navigation menu. Gerber, for instance, centralizes its content in a clearly labeled Life Insurance Learning Hub linked from the main menu, making resources easy to find at any point when browsing.

To enhance discoverability, insurers have incorporated resources directly within product pages—where users already inclined to learn more are most likely to notice. MassMutual is the leader in this department, with a life insurance calculator and linking related articles on its primary Life Insurance hub, helping users explore further without needing to leave the page.

Learn more about CI’s life insurance research and our competitive intelligence research services. And bookmark our Insights section for more on the latest trends affecting the digital experience in financial services, insurance and healthcare.