Cross-Selling Life Insurance: Strategies Based on Life Span Theory and Critical Life Events

This article develops strategies for cross-selling life insurance to customers who already hold other insurance products. Cross-selling life insurance presents unique challenges due to its association with long-term financial security, mortality, and legacy. Unlike other types of insurance that meet immediate needs, the decision to purchase life insurance is often triggered by critical life events and influenced by life span changes. Drawing on life span theory, this article identifies significant life events, such as marriage, parenthood, and retirement, that increase receptivity to life insurance and proposes theory-based strategies to enhance customer interest. By examining life stages and their associated motivations, the article offers testable propositions for cross-selling life insurance to existing insurance customers.