Financial Literacy and Inclusive Insurance as Strategies for Enhancing The Financial Resilience of Gen Z in Retirement

Abstract

This paper explores the intersection of financial literacy and inclusive insurance as key strategies for enhancing the long-term financial resilience of Generation Z (Gen Z), especially in the context of retirement planning. The goal of the research is to address the growing vulnerability of this digital-first generation, which faces structural economic challenges such as student debt, precarious employment, and limited access to employer-sponsored benefits. The study uses a conceptual and literature-based methodology to examine global trends, synthesize evidence on financial and insurance behavior, and assess the effectiveness of these strategies. Findings show that low levels of financial and insurance literacy hinder Gen Z’s ability to plan for retirement, while their digital fluency offers an opportunity for targeted interventions through tech-enabled financial education and inclusive insurance products. The discussion emphasizes the urgency of early intervention, behavioral skill-building, and the development of modular, value-driven insurance options. The paper concludes that financial literacy and inclusive insurance, when integrated, can significantly improve retirement outcomes for Gen Z. The research has policy and practical implications for stakeholders aiming to design more inclusive and adaptive financial systems. Its impact lies in highlighting the need for coordinated efforts that combine education, protection, and empowerment to ensure financial security for future generations.