Gen Xers want flexibility and options. The producer should consider convertability and waiver-of-premium options.

Based on the prospect’s particular needs, it might make more sense to go to an initially higher-priced term contract to give the prospect more options, a better quality conversion contract and a high-quality carrier for the future.

Editor’s note: The preceding is an excerpt from “Generation X: The next market for term life,” by Irwin L. Gross, CFS, RFC, an article that originally appeared in the January 2005 issue of Life Insurance Selling. Click here to read the entire article.

To read last week’s Tip of the Week, click here.