The global life insurance industry is unprepared for the $7.8trn wealth transfer to beneficiaries by 2040, says the Capgemini Research Institute’s World Life Insurance Report 2023.
A highly significant 60% of individuals aged 65 or older have not sought professional financial advice to prepare for retirement or to transfer their wealth.
While three-in-four consumers are interested in innovative life insurance offerings to help them age well, but insurers lack the product development capabilities, the report said.
The new report, published on 19 October, highlights an unprecedented …
