A major life insurance company is combining social media and video to help educate people on the benefits of the product. In particular, the posted videos highlight the value of having permanent life insurance.
One of the posted videos features a couple who turned a rundown building into a preschool. The pair were able to achieve their goal in part to the cash value of their life insurance policy.
"The policyowners in these stories show how a product like permanent life insurance can provide the protection - along with stability, flexibility and long-term growth - needed to help our clients achieve their individual goals," said a representative from the insurer.
Despite the benefits of life insurance, not everyone has the coverage. The MIB Life Index reports the number of underwritten policies dropped 1.6 percent between November 2009 and 2010.
Despite the overall decline, a 6 percent gain in life insurance sales was made by consumers over the age of 60 within the same time period.
By using social media, a tool often associated with a younger audience, insurers may be more successful reaching the market.