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At nearly 50 million strong and somewhere between their late 20s and early 40s, Generation X has become the insurance industry's proverbial buried treasure, not to mention the sweet spot for the purchase of individual disability insurance.

In today’s rapidly changing marketplace, we're all looking for buried treasure — that untapped niche that will propel a business into the future and build a client base for years to come. With many insurance carriers and insurance professionals focused on the huge opportunity that is the baby boomers, there is an underserved group of potential clients that are largely ignored and eager for the security and protection we provide.

At nearly 50 million strong and somewhere between their late 20s and early 40s, Generation X has become the insurance industry's proverbial buried treasure, not to mention the sweet spot for the purchase of individual disability insurance.

The key to finding this treasure is knowing what you are looking for. According to the 2005 Census, 58.3 percent of GenXers attended college, which would make them the most educated generation in U.S. history. Generation X also has a strong belief in family, with over half being married and financially responsible for at least one dependent child.

GenXers grew up as byproducts of the information age, and the Internet has become a vital part of their everyday lives, creating a very savvy group when it comes to comparison shopping. They are also wary of marketing gimmicks — they want to be educated about what they are buying and they want to purchase something with clear and tangible benefits from a trusted source.

Financially speaking, GenXers provide some unique opportunities to market insurance-related products, specifically disability income insurance. Consumer debt is one of the main reasons. Nine out of ten consumers in their 30s are in debt, compared with 76 percent of those in their 20s, according to the Federal Reserve’s Survey of Consumer Finances.

In a recent Charles Schwab study of more than 2,000 GenXers nationwide, 45 percent of respondents said they had too much debt to think about saving.* This means GenXers need affordable products that have the ability to grow with them over the next 30-40 years of their career. It also means that a disability of even a short duration could be financially devastating for their young families.

Contrary to what you might think, the "Customer Focus 2004: Insurance Study" by Vertis found that GenXers were actually more interested in buying many types of insurance coverage than the average adult. That same study also found that while over 50 percent of GenXers would be willing to buy insurance over the phone, through the mail, or on the Internet, 35 percent of people in households with an income of $75,000 or more felt that a knowledgeable producer was the most important service provided by an insurance company.

The conceptual properties of the income protection sale are an excellent entry point to show the GenXer the value of the service you provide and, if done properly, can lead to sales of many other insurance products throughout their lives.

GenXers want to be educated about solid products that can grow with them in the long term while being affordable in the short term, and they want it from trusted sources just like you. Keep these things in mind and the treasure can be yours. Don't forget, X marks the spot.

*USA Today, May 19, 2008