Are You Serving the Sandwich Generation?
Protecting Consumers Caring for Both Kids and Aging Parents
Across America, a familiar story is unfolding. Parents in their 30s, 40s, and 50s are juggling rising education costs, housing challenges, and a tough job market for their children—while simultaneously caring for aging parents who need increasing support. This sandwich generation is growing as lifespans extend and financial pressures mount.
Many quietly pause retirement savings, take on additional debt, or tap emergency funds to support loved ones on both sides. The result: a growing risk to their own financial stability.
Who They Are and How They Live
The sandwich generation often lives outside traditional employment and family patterns. They rely on flexible gig work, remote roles, or multiple income streams. Digital platforms shape how they learn, shop, and seek support—they trust peers, reviews, and transparent research tools long before visiting a bank branch or insurance website.
This generation values flexibility but faces real gaps when caregiving, medical expenses, or unexpected events strain budgets.
What Today’s Consumers Demand
The data is clear: over 70% of insurance buyers compare options digitally before deciding. The sandwich generation, already juggling competing responsibilities, depends on this convenience.
They want personalization and transparency—no complex fine print, just clear explanations and coverage that adapts to rapidly changing family needs. Leading insurers are responding with modular options, real-time underwriting, simpler designs, and flexible benefits tied to life-stage changes like marriage, children, or elder care.
Values matter too. Authenticity and trustworthiness aren’t nice-to-haves—75% of consumers are willing to pay more for products that support environmental and social initiatives. For the sandwich generation, values are non-negotiable.
The Digital-First, Multi-Channel Reality
Convenience is currency. For consumers balancing multigenerational caregiving, streamlined online enrollment, quick claims, and digital tools aren’t luxuries—they’re essential. Reaching this group requires consistent messaging across email, mobile apps, and digital platforms.
Brand loyalty has shifted. Three out of four financial institution consumers now have relationships with multiple providers. The sandwich generation often keeps their parents’ trusted bank while also turning to competitors that offer better convenience, digital tools, or specific services. What keeps them? Trust. Nearly 1 in 4 consumers say trust determines their insurance provider.
Empathy matters even online. In a digital-first world, consumers still want genuine support. They value institutions that speak plainly, act transparently, and recognize the emotional weight of their caregiving roles. When empathy is directed their way, they’re more likely to connect and feel supported.
How Financial Institutions Can Step In
Anticipate needs through data. Advanced analytics can spot when consumers enter the sandwich generation—rising medical costs, new dependents, changing life patterns. Proactive, tailored solutions show genuine understanding during this demanding stage.
Integrate seamlessly. Embedded tools in platforms they already use reduce time pressure while offering guidance for complex decisions—blending efficiency with empathy.
Use data ethically. Transparent privacy practices and clear consent strengthen trust with a generation cautious about data handling.
Expand through partnerships. Collaborating with trusted providers extends access to accident, hospital indemnity, life insurance, and other protections that help families navigate both financial and physical challenges.
The Path Forward
The sandwich generation represents one of today’s most financially burdened consumer groups, supporting children, caring for aging parents, and attempting to protect their own future—often at the cost of their retirement.
Financial institutions that step in with understanding and proactive support offer real relief. By combining data-driven insights, digital convenience, and compassionate communication, they build relationships that span generations and genuinely make life easier.
At Franklin Madison, we believe protecting consumers begins with understanding their realities. We help banks, credit unions, and affinity partners support families like the sandwich generation through tailored supplemental insurance programs, data-informed engagement, and digital experiences that put consumers’ well-being first.
