Millennials & Life Insurance
Life insurance. Isn’t that just for older people? As a millennial, you’re not alone if you feel indifferent about life insurance. In fact, a study from Life Happens, show that 29 percent of millennials would rather save for a vacation than purchase life insurance. Understandable, right?
But here’s what your peers might NOT know.
With how affordable life insurance can be, you can still very easily still find yourself unrolling your beach towel in Punta Cana or posing for a selfie atop the Golden Gate Bridge with a life insurance policy in your back pocket. And these years of your life — when you’re young, healthy and adventuresome — are actually the BEST time to think about life insurance. Here’s why.
Love knows no age. Just because you’re a twenty or thirty-something doesn’t mean there aren’t people who depend on you. Whether it’s a parent, sibling, spouse, partner, new baby or a growing family of little ones, others rely on you so it’s smart to take proactive steps in case anything should happen — leaving the financial and emotional stresses of bills, student loans, house payments, etc. for them to handle. Life insurance gives you confidence that those you love will be taken care of no matter what.
Sweet savings. Young? Check. Healthy? Check. When it comes to buying life insurance, being millennial-aged can be a huge advantage since you’re more likely to be considered “low-risk”. What does this mean for your wallet? More affordable payments now — and many times — for the long-term too.
Personal plans. Is life insurance offered through your work? That’s awesome! While many companies offer fantastic plans, it’s worth digging a bit deeper to see how well that plan actually takes care of you. Many workplaces offer relatively small amounts of coverage that should be supplemented to cover what makes you and your loved ones unique. Plus, if you move jobs, you can’t take your company plan with you. Not sure how to decipher your current life insurance policy? Your American Family agent is the perfect person to ask for smart, honest advice on what makes sense for your ever-evolving life and dreams.
When it comes to life insurance, adulting doesn’t have to be hard. Take a peek at some info about life insurance — or better yet — let your agent know that you’re starting to think about more ways to take care of those you love. They’ll help take it from there!