Death Plans Delayed by Millennials Put Insurers Under Pressure

Usman Ahmad is in no hurry to insure his own life, even after buying protection for his gray BMW and the house he bought in Toronto. "I'm not planning on dying any time soon so it's a waste of money," the 30-year-old said while eating lunch and browsing his iPhone at a food court in Toronto's financial district, where he works for Gemini Aviation Inc. as a manager. Young adults who wait longer to start families are also putting off death planning, pushing insurers like MetLife Inc. (MET) in the U.S. and Canada's Manulife (MFC) Financial Corp. to expand in regions such as Asia or Latin America and push into asset management or retirement planning. "The industry needs to learn how to better communicate with that generation," Bob Kerzner, chief executive officer of insurance trade group Limra, said by phone last week.



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