1.
Who Are the Millennials? Identifying Millennials’ Attitudes and Behaviors
Marissa Valente, Market Research Analyst

2.
Proprietary Notice
The material contained in this presentation has been prepared solely for informational purposes by Gen Re. The material is based on sources believed to be reliable and/or from proprietary data developed by Gen Re, but we do not represent as to its accuracy or its completeness. The content of this presentation is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances. Who Are the Millennials? | Marissa Valente | 08/05/2014 Proprietary and Confidential | © General Re Life Corporation 2

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Who Are the Millennials? | Marissa Valente | 08/05/2014 Proprietary and Confidential | © General Re Life Corporation 3
Source Idea: Immersive Youth Marketing Blog by Lauren Gourley & Katie Kutskd
THE MILLENNIAL
I’m one of 60–80 million people born roughly between 1980-2000. You’re going to want to get to know me.
H E L L O
my name is

4.
Millennials and Major Life Hurdles
Changing the Time Table Who Are the Millennials? | Marissa Valente | 08/05/2014 Proprietary and Confidential | © General Re Life Corporation 4
Source: YouTube – TedxSF – Scott Hess – Millennials: Who They Are and Why We Hate Them
Need to understand their current interests and how to target them based on the idea that they have “prolonged” their life stages.

5.
Millennials in a Nutshell Who Are the Millennials? | Marissa Valente | 08/05/2014 Proprietary and Confidential | © General Re Life Corporation 5
DIVERSE
EDUCATED
59% White
20% Hispanic
14% Black
5% Asian
2% Other
63.3%
16.9%
12.2%
3.0%
3.0%
1.3%
0.2%
Bachelor's Degree
Master's Degree (including MBA)
Associate's Degree
High School
Ph.D., J.D., M.D.
Some College
No Degree
Source: Pew Research Center - Millennials: Confident. Connected. Open to Change, 2010, The Generation Gap and the 2012 Election, 2012, Payscale – Gen Y on the Job
Immersive Youth Marketing Blog by Lauren Gourley, 2014 Image Layout: Katie Kutskd
UNIQUE
We consider ourselves unique based on…
Technology (24%)
Music/Pop culture (11%)
Liberal/Tolerant (7%)
Smarter (6%)
Clothes (5%)

6.
87%
72%
64%
63%
49%
Recycled
Educated family
and friends about
a cause
Donated money
towards a cause
Volunteered time
to support a
cause
Participated in
fund-raising
event for a cause
Millennials in a Nutshell Who Are the Millennials? | Marissa Valente | 08/05/2014 Proprietary and Confidential | © General Re Life Corporation 6
Source: CONE, Millennial Cause Study, 2006
•
Have a strong desire to be a part of the “bigger picture”
•
Understand the connectedness of the world and want to help make it a better place
•
Tend to overshare opinions and question authority
Pro-Social Activities Millennials Have Participated in During the Past Year
Millennials….

7.
Millennials in a Nutshell Who Are the Millennials? | Marissa Valente | 08/05/2014 Proprietary and Confidential | © General Re Life Corporation 7
Millennials…. Are less trusting of others when compared to previous generations
Source: Pew Research Center, Millennials in Adulthood, 2014
19%
31%
37%
40%
10%
20%
30%
40%
50%
60%
1987
1992
1997
2002
2007
2012
Millennials
Gen X
Boomers
Silent
Millennials Less Trusting of Others
(% saying that, generally speaking, most people can be trusted)

8.
•
Millennials as Consumers
•
Millennials as Employees
•
Government’s Role vs. Employer’s Role
•
Planning and Financial Intelligence Who Are the Millennials? | Marissa Valente | 08/05/2014 Proprietary and Confidential | © General Re Life Corporation 8

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Who Are the Millennials? | Marissa Valente | 08/05/2014 Proprietary and Confidential | © General Re Life Corporation 9
Millennials are spenders who are used to being able to customize what they buy.
Millennials can be considered job “hoppers” who prefer not to be “confined” by their location or role.
Millennials more than any other generation appear to have a higher level of comfort with government involvement.
Millennials have a limited understanding about finances but that could be due to lack of experience – they have relied on Mom and Dad.
Millennials are cause-driven, both as consumers and employees.

10.
Millennials as Consumers

11.
Millennials as Consumers Who Are the Millennials? | Marissa Valente | 08/05/2014 Proprietary and Confidential | © General Re Life Corporation 11
Source: Social Media Today, The Rise of the Millennials, 2013
SPENDING POWER
$600 BILLION
PER YEAR
$1.4 TRILLION
BY 2020
“Millennials are predicted to surpass the spending power of baby boomers by 2018”
MILLENNIALS LOVE TO SPEND MONEY
58% “love to shop” compared to 40% of adults overall.
Millennials spend 8% more on apparel than those aged 35-44, even though they earn 22% less.
65% are more likely to eat out with friends and coworkers than non-Millennials
Travel spending rose 20% in 2010, making Millennials the fastest-growing age segment for travel

12.
Millennials donate more to brands that support causes and/or are socially responsible like Ethos, Toms, Warby Parker, Patagonia, and Roozt.
Millennials as Consumers
Cause-Driven Who Are the Millennials? | Marissa Valente | 08/05/2014 Proprietary and Confidential | © General Re Life Corporation 12
Source: Static Square Space – Millennials: The Next Generation of Consumers, 2012
Shopping Habits
86%
85%
want to learn about the relevant environmental issues from the brand itself.
correlate their purchasing decisions (and their willingness to recommend a brand to others) to the responsible efforts a company is making.
are willing to try a new, unfamiliar product or service if it supports a cause.
73%
Source: CONE, Millennial Cause Study, 2006

13.
Millennials as Consumers
User Generated Content Who Are the Millennials? | Marissa Valente | 08/05/2014 Proprietary and Confidential | © General Re Life Corporation 13
“73% of Millennials believe other consumers care more about their opinions than companies do; that's why they continue to share their opinions online. They view companies that include customer feedback on their websites as honest, at 66%, and credible, at 53%.”
-Online Media Post, 2012
Source: Social Media Today, The Rise of the Millennials, 2013
Top purchases Millennials won’t complete without user generated content
MAJOR ELECTRONICS
44%
40%
CARS
HOTELS
39%
32%
TRAVEL ACCOMODATIONS
29%
CREDIT CARDS
29%
INSURANCE

14.
Millennials as Consumers
Millennials have grown up with brands like Apple, Build-a-Bear, iTunes, Netflix, Pandora, Google, making it almost instinctual that everything can be customized.
Customization
Who Are the Millennials? | Marissa Valente | 08/05/2014
Proprietary and Confidential | © General Re Life Corporation
14
“They [Millennials] expect them [products and services] to have as much personalization and customization features as possible to meet their changing needs, interests and tastes.”
-Richard T. Sweeney in Millennial Behaviors & Demographics, 2006
YOUR NAME HERE
“Millennials grew up with two unique influencers: Technology and Choice. While some might mistake this for a sense of entitlement, it’s simply the result of growing up in a world that now offers more choices and possibilities than ever before.”
-Business 2 Community, Millennials Favor User Generated Content, 2014

15.
Millennials as Employees
Work Environment and Expectations

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Millennials as Employees Who Are the Millennials? | Marissa Valente | 08/05/2014 Proprietary and Confidential | © General Re Life Corporation 16
Source: http://socialmediatoday.com/irfan-ahmad/2023461/rise-millennials-infographic
BUSINESS IMPACT
GLOBAL WORKFORCE
75% OF WORKFORCE BY 2025
Median salary is $39,700
1 IN 10 MILLENNIALS MAKES OVER $100,000
15%
are already managers
More than 85% of hiring managers and human resources executives believe this group has a stronger sense of entitlement than older workers
MYTH VS. REALITY
Millennials don’t want your advice – they’ve got it all figured out.
Millennials crave coaching.
MYTH VS. REALITY
Millennials are all about the money.
Benefits trump salary.
Source: Capstrat – The Truth About Millennial Workers, 2012 – research sample: online survey and in-depth interviews with 402 adults ages 22-30 in U.S.

17.
Millennials as Employees
Cause Driven Who Are the Millennials? | Marissa Valente | 08/05/2014 Proprietary and Confidential | © General Re Life Corporation 17
Source: NPR – Debate: Millennials Don’t Stand A Chance, April 2014
Millennial: David D. Burstein
“ 56% of Millennials would take a pay cut to work somewhere that is changing the world for the better.”
-Brand Channel, 2012
“87% of Millennials consider a company’s commitment to social and environmental causes when deciding where to work.“
-CONE, Millennials Close at Mom’s Heels: 2010 Cone Cause Evolution Study, 2010

18.
43%
36%
21%
the start of my career
a job to earn money, but nothing
to do with my career
job at a company I want to work
for but not what I want as a career.
It's only to get my foot in the door
Millennials as Employees Who Are the Millennials? | Marissa Valente | 08/05/2014 Proprietary and Confidential | © General Re Life Corporation 18
72% say their career is essential to their identity
-Barna Group: 20 and Something, 2013
Who am I?
“50% of Millennials surveyed want to work for a business with excellent ethical practices.”
-The Deloitte Millennial Survey, 2014
Describing their first job out of college:
Source: The Hartford - Generation Y Grows Up, 2014
would prefer to choose when and where they work rather than being placed in a 9-to-5 position
89%
Source: Odesk, Announces New Study on Millennials and the Future of Work

19.
Work Environment and Expectations Who Are the Millennials? | Marissa Valente | 08/05/2014 Proprietary and Confidential | © General Re Life Corporation 19
“The vast majority of Millennials (90%) do not plan to stay with any given employer for more than five years.”
Source: New Direction Consulting A five year survey of Millennials conducted by Adam Kingl and Richard Hytner printed in the Guardian
•
Millennials are motivated by social needs as opposed to transactional desires
•
Strong desire for work/life balance
•
Willing to take a pay cut to have that balance
•
Millennials plan on having many careers and are looking for experience
“Millennials will have an average of 15-20 careers over the course of their working lives”
-Forbes Magazine, Job Hopping the ‘New Normal’ for Millennials, 2012

20.
Work Environment and Expectations Who Are the Millennials? | Marissa Valente | 08/05/2014 Proprietary and Confidential | © General Re Life Corporation 20
“Companies that truly ‘get’ Millennials and engage with them appropriately [as employees and as consumers] can differentiate themselves in the marketplace and forge long- term relationships with their customers” -Boston Consulting Group, The Millennial Consumer, 2012
“Millennials are well educated, skilled in technology, very self-confident, able to multi-task, and have plenty of energy. They have high expectations for themselves, and prefer to work in teams”
-Ivey Business Journal, 2011
Millennials’ Needs
Engaging experience
Work life balance
Social interactions/collaboration/teamwork
Immediate results
Sense of purpose
Shared workspace
Home office/flexible schedule
Make work always present
Learn differently
To be challenged
Source: http://danschawbel.com/
ADD PODCAST AUDIO FROM INSURANCE JOURNAL – WARREN WRIGHT MILLENNIALS SEGMENT ONCE IT IS DOWNLOADED

21.
Government’s Role vs. Employer’s Role 21

22.
Government’s Role / Employer’s Role Who Are the Millennials? | Marissa Valente | 08/05/2014 Proprietary and Confidential | © General Re Life Corporation 22
Source: Pew Research Center, Millennials in Adulthood, 2014
Note: Figures may not add to 100% because of rounding and the “depends/don’t know” category has been omitted
•
Millennials believe that government should be larger and provide more services to the people.
•
Millennials also believe that government has more potential to solve issues facing society such as education and healthcare when compared to big businesses.
38%
49%
59%
64%
53%
43%
32%
22%
Millennials
Gen X
Boomer
Silent
Smaller government, fewer services
Bigger government, more services
Support for Bigger Government Highest Among Millennials

23.
Government’s Role / Employer’s Role
87%
90%
86%
86%
81%
86%
88%
85%
Healthcare /
Disease
Prevention
Education, Skills
and Training
Unemployment
Stablility
National
Economies
Government
Business
Who Are the Millennials? | Marissa Valente | 08/05/2014 Proprietary and Confidential | © General Re Life Corporation 23
Government vs. Business’ Potential to Solve Society’s Issues – Percentage Responding “A Great Deal/Fair Amount”
Source: The Deloitte Millennial Survey with more than 7,800 Millennials in 2014
“According to Pew’s research, a plurality of Millennials, unlike older generations, mostly disagree with the statement that ‘government regulation of business usually does more harm than good.”
-The Brooking Institute, Governance Studies, May 2014
“Most prefer to pay a reasonable single payment monthly to cover everything–no co-pays, deductibles, premiums and out of pocket for what’s not covered. And many think a single payer, government run system might be more easy to navigate than the hodge-podge of programs and plans they see at work and in their community.”
-The Health Care Blog, March 2014

24.
Reasons Supporting Government Regulation Who Are the Millennials? | Marissa Valente | 08/05/2014 Proprietary and Confidential | © General Re Life Corporation 24
“Government regulation helps to ensure fairness to the people it is responsible for governing and helps generate operations that are in the best interest of the population.”
Trust
Universal
Regulation
Prevent Exorbitant Fees
Prevent Corruption
Comprehensive
Security
Condition
Keep competitive
Fair
Attainable
Taking advantage
Protect & Serve
Fairness
Easier
Pre- Existing
Why Millennials want government regulation of health insurance
“I think that involving government in big business of any sort will help regulate for fairness and prevent financial abuse from within. The economic disparity in this country needs to be mediated. Conversely, the government needs to also be kept in check. There should be no absolute power in any regards.”
“It's important to me that government closely regulates insurance companies, to prevent them from taking advantage of vulnerable populations (i.e. the elderly).”
“I believe that this is a path to a more equivalent and ‘fair’ distribution of healthcare.”
“There needs to be regulation so that people who do not understand insurance have safeguards.”
Population’s Best Interest
Source: Gen Re, Online Survey of Millennials, July 2014 *Note: Question was asked: “Which of the following statements do you agree with more?
1.
I want government to regulate what insurance companies can offer for health insurance
2.
I do not want government to regulate what insurance companies can offer for health insurance.

25.
Reasons Opposing Government Regulation Who Are the Millennials? | Marissa Valente | 08/05/2014 Proprietary and Confidential | © General Re Life Corporation 25
Source: Gen Re, Online Survey of Millennials, July 2014 *Note: Question was asked: “Which of the following statements do you agree with more?
1.
I want government to regulate what insurance companies can offer for health insurance
2.
I do not want government to regulate what insurance companies can offer for health insurance.
“I prefer to have a market that can be allowed to freely compete for business. I believe this allows for more free movement of capital and naturally regulates prices.”
Distrust
Very Shady
Cannot Handle Responsibility
Don’t Feel Comfortable
Too Much Control
Limits Selection
Class Discrimination
Taking advantage
Not Accurate
No Involvement
Not Reliable
No Right
Why Millennials do not want government regulation of health insurance
“I am kind of split on this question because there are benefits of both, but as a general rule of thumb I will always vote for the government to have less power than they need.”
“I have not found the government to do a good job managing almost any venture regarding finances and human benefits, at least federally.”
“This is not the government's responsibility.”
“They are not looking out for me as an individual.”
Limits Choices
People Should Decide
Free Market
Open Competition

26.
Government’s Role vs. Employer’s Role Who Are the Millennials? | Marissa Valente | 08/05/2014 Proprietary and Confidential | © General Re Life Corporation 26
6%
39%
51%
9%
36%
50%
26%
42%
28%
Benefits at current levels
Benefits at reduced levels
No benefits
Millennials
Gen X
Boomers
Half of Millennials and Gen Xers Doubt They’ll Receive Any Social Security Benefits
When you retire, Social Security will provide…
Source: Pew Research Center – Millennials in Adulthood, 2014

27.
Planning and Financial Intelligence 27

28.
Planning and Financial Intelligence Who Are the Millennials? | Marissa Valente | 08/05/2014 Proprietary and Confidential | © General Re Life Corporation 28
Source: Gen Re, Online Survey of Millennials, July 2014
“To me, financial planning means preparing myself financially for the future, that is, how much I will save/spend, what type of retirement plan I will have, what kinds of insurance, etc.”
“Forecasting future expenses and preparing for them.”
“Financial planning is tough... I feel my entire life will be working to survive.”
Future
Financial
Money
Budgeting
Retirement
Growth
Preparing
Security
Start
House
Needs
Rent
Planning Ahead
Student
Loans
Long Term
Paycheck
Debt
Finances
“1. Paying off student loans
2. Planning for my future (kids, house, life insurance, etc.)
3. Growing my small business.”
When asked “What does financial planning mean to you,” Millennials provided the following responses…
Overall, Millennials consider financial planning to be budgeting and preparing today, to be able to fund planned future expenses.

29.
Planning and Financial Intelligence Who Are the Millennials? | Marissa Valente | 08/05/2014 Proprietary and Confidential | © General Re Life Corporation 29
68%
Think their financial planning needs improvement
Barriers to Improving Financial Planning
Source: Northwestern Mutual, 2014 Planning and Progress Study “Millennials Approach to Money Management, 2014
Note: Qualified Respondents between ages 18-29 (n=226)
13%
Have a financial advisor
Source: TIAA-CREF Institute, College-Educated Millennials: An Overview of Their Personal Finances, 2014
Note: Percentages are calculated over the total sample of 2,124 respondents.
38%
35%
15%
Savings or
Investments
Taking out a
mortgage or a
loan
Debt counseling
In the last 5 years, have you asked for any advice from a financial professional about any of the following?
28%
28%
15%
15%
4%
Don’t know where to find help
Not enough time
Not enough interest
Find it too confusing
Lack of money/finances

30.
Planning and Financial Intelligence Who Are the Millennials? | Marissa Valente | 08/05/2014 Proprietary and Confidential | © General Re Life Corporation 30
Source: Granum Center, 2014 http://granum.theamericancollege.edu/white-board/flashpoint-financial-principles-for-millennials0/
9%
16%
14%
5%
28%
32%
34%
22%
63%
51%
52%
73%
Silent
Baby
Boomers
Gen X
Millennials
Literate
In Between
Illiterate
Financial Literacy Across Generations

31.
Planning and Financial Intelligence
Financial Literacy Who Are the Millennials? | Marissa Valente | 08/05/2014 Proprietary and Confidential | © General Re Life Corporation 31
81%
59%
38%
29%
53%
Advanced Literacy: Answered all questions correctly
Numeracy question
Inflation question
Risk diversification question
Bond prices question
Source: TIAA-CREF Institute – College-Educated Millennials: An Overview of Their Personal Finances, 2014
Note: Percentages are calculated over the total sample of 2,124 respondents.
Percentage of Respondents Answering Correctly
81%
Mortgage question
Basic Literacy: Answered Numeracy, Risk diversification and Inflation questions correctly
14%
38% of Millennials who are college educated have basic financial literacy, while only 14% show an advanced level of financial literacy.
Suppose you had $100 in a savings account and the interest rate was 2% per year. After 5 years, how much do you think you would have in the account if you left the money to grow?
Imagine that the interest rate on your savings account was 1% per year and inflation was 2% per year. After 1 year, how much would you be able to buy with the money in this account?
Please tell me whether this statement is true or false. “Buying a single company’s stock usually provides a safer return than a stock mutual fund.”
A 15-year mortgage typically requires higher monthly payments than a 30-year mortgage, but the total interest paid over the life of the loan will be less.
If interest rates rise, what will typically happen to bond prices?

32.
Planning and Financial Intelligence Who Are the Millennials? | Marissa Valente | 08/05/2014 Proprietary and Confidential | © General Re Life Corporation 32
Source: Wells Fargo – Millennials & Money Highlights from the 2013 Wells Fargo Millennial Survey
Note: Qualified respondents age 22-32 (n=1,400)
According to a 2013 Wells Fargo survey, Millennials have no idea where to find guidance when dealing with financial services.
•
Lack of financial literacy among Millennials
•
Interested in learning
4%
5%
7%
10%
11%
62%
Online brokerage
Mutual Fund companies
Financial Services
Brokerage
Registered Investment
Advisor (RIA) Firms
Banks
No Idea/All the Same
Types of firms that best know how to provide financial services to Millennials
37%
30%
22%
44%
49%
45%
12%
11%
15%
7%
10%
18%
Millennials
Gen X
Boomers
Not at all interested
Somewhat uninterested
Somewhat Interested
Very Interested
Interest in Learning Savings Options/Strategies (by age segment)
29%
24%
18%
46%
47%
40%
15%
16%
20%
9%
13%
22%
Millennials
Gen X
Boomers
Interest in Learning Investment Basics
(by age segment)
Source: LIMRA, U.S. Consumers Today Series 1 and 2, 2014
Note: Age ranges for generational segmentation varies from study to study, for this analysis Millennials refers to respondents age 25 to 34, while Gen X refers to those age 35 to 44 and Boomers refers to those age 45 to 64.

33.
Wrap - Up

34.
Key Takeaways Who Are the Millennials? | Marissa Valente | 08/05/2014 Proprietary and Confidential | © General Re Life Corporation 34
Millennials want to be able to have the ability to customize and use technology
Millennials are cause driven and want to support their peers, communities and “greater good”
For Millennials, salary is important but it is NOT the most important aspect of their career
Millennials need to be engaged, they are focusing on building their own portfolio and reputation
Millennials tend to be more accepting of government involvement than previous generations
Millennials need to increase their understanding of financial planning and benefits education
1
2
3
4
6
5

35.
How to Communicate with Millennials Who Are the Millennials? | Marissa Valente | 08/05/2014 Proprietary and Confidential | © General Re Life Corporation 35
Source: YouTube
What Is Roozt?
Make it Fun: Ever on the hunt for a game.
Researchers: Shoppers rely on online reviews
Money Managers: Are anxious but aspire to be responsible
Source: rDialogue, How to Gain the Loyalty of Millennials
“Roozt.com is the World’s Marketplace for Cause-Brands. We’re an innovative and fun e-commerce company that curates the most fashion forward brands who are all committed to making a difference around the world.”
Source:http://roozt.theresumator.com/

36.
Visit genre.com for more info.
Questions? Please contact me.
Marissa Valente
Market Research Analyst
marissa.valente@genre.com

37.
Appendix 37

38.
Social Media and Inclusiveness 38

39.
Social Media and Inclusiveness
A lot can happen in 200 seconds Who Are the Millennials? | Marissa Valente | 08/05/2014 Proprietary and Confidential | © General Re Life Corporation 39
Source: http://venturebeat.com/2014/05/27/heres-the-entire-internet-live-in-one-real-time-infographic/
•
36,946 user searches on LinkedIn
•
935,424 searches on Google and $325,206 in ad revenue
•
10,353 items purchased on Amazon
•
128,702 app downloads from Apple
•
250,908 app downloads from Android
•
469,742 hours of YouTube watched and 406 video hours uploaded
•
10,595,788 “likes,” 11,160,128 posts and 1,218GB of data transferred on Facebook
•
4,699,044 minutes used on Skype
•
690,763,934 emails sent
•
78,358 hours of Netflix watched
•
206,857 hours of Pandora streamed
•
140,882 photos uploaded and 203,000 comments on Instagram
•
2,349,522 files saved on Dropbox
And with Millennials spending an average of 18 hours a day consuming media…

40.
Social Media and Inclusiveness Who Are the Millennials? | Marissa Valente | 08/05/2014 Proprietary and Confidential | © General Re Life Corporation 40
Millennials Prioritize Social Networking Above Other Media
Daily Use of Media Types
12%
15%
15%
17%
18%
18%
29%
35%
37%
39%
46%
47%
49%
53%
60%
71%
Banner ad
Blog online, post to bulletin boards, etc.
Read professional reviews (CNET, etc.)
Get product info/buy from a company
Read peer reviews (eg. Epinions)
Read print magazines or newspapers
Read blogs, bulletin boards, etc.
Watch video clips (eg. YouTube)
Visit news media sites
Talk about products/brands
Watch TV (pre-recorded)
Retrieve news, weather, scores
E-mail, text, gchat, texting, apps
Listen to Radio (broadcast/streaming)
Watch TV (live)
Social Networking (eg. FB, LinkedIn, Inst..)
Key
Peer Generated
Other Media

41.
10%
7%
20%
3%
7%
10%
13%
18%
6%
6%
Social Media and Inclusiveness
A New Generation of Connectedness Who Are the Millennials? | Marissa Valente | 08/05/2014 Proprietary and Confidential | © General Re Life Corporation 41
Source: Crowdtap, Social Influence: Marketing’s New Frontier, 2014
All Media Types
User Generated Content
Play computer or video games
Go to the movies
Browse the internet / go online
Read print magazines / newspapers
Listen to the radio
Watch TV (pre-recorded)
Watch TV (live)
Social networking & content (FB, Instagram, LinkedIn)
Use e-mail, text, gchat and texting apps
Talk with others about news / products / brands
30%

42.
Social Media and Inclusiveness Who Are the Millennials? | Marissa Valente | 08/05/2014 Proprietary and Confidential | © General Re Life Corporation 42
“They want to be able to review their benefit options online but have a real-life person available to answer their specific questions.”
-Lindsey Pollack, 5 Myths about Millennials and Benefits, 2013 (Benefitspro.com)
Source: Norah Denley, LIMRA 2013 Insurance Barometer Study
*Note: Not Millennial specific
of respondents would like to be able to research and/or buy life insurance policies online
86%
44%
33%
4%
18%
Yes, I have already
Yes, but I have not yet
Yes, but my company does not
offer it
No interest
Millennial Policyowner Interest in Obtaining Service Online for Life Insurance
Source: LIMRA 2014 Digital Service Preferences: Life Insurance Policyowner Service Preferences Through Web, Mobile, and Social

43.
Planning and Financial Intelligence Who Are the Millennials? | Marissa Valente | 08/05/2014 Proprietary and Confidential | © General Re Life Corporation 43
Source: Pew Research Center – The Generation Gap and the 2012 Election, 2011
•
Millennial generation has the highest belief that parents are responsible for saving money to hand down to children.
•
Millennials are optimistic about their future earnings and financial situation.
46%
71%
93%
36%
64%
91%
26%
60%
83%
22%
48%
73%
Parents saving money to hand down to children is
a responsibility
Adult children taking in an elderly parent is a
responsibility
Adult children taking care of parent needing help
is a responsibility
Millennials
Gen X
Baby Boomers
Silent
Generational Views on Family Responsibilities
% of respondents agreeing with the given statement
Mill-Silent diff: +24%
Mill-Silent diff: +23%
Mill-Silent diff: +20%