Some millennials might tell you that they don’t need life insurance; they’re young and in good health, so it’s not something they ever think about — or need. This is dangerous thinking. Life insurance is not about what you think you need; it’s about what your family will need. It’s about protecting your loved ones’ futures. If you have dependents to support, your death could have devastating consequences. Whether or not you think you need life insurance for millennials, your family does.
Life Insurance for Millennials
Millennials might have a lot of debt: student loans, business loans, and investments are commonly held by this demographic. As a result, it’s easy for the younger generation to get in over their heads. But it’s not just about the money; life insurance can provide peace of mind to your family. If you were to die, would your family be able to pay off the debts you left behind? Life insurance can be used to pay off whatever loans you have, giving your family financial security. Don’t transfer your debt to your family in case something tragic happens.
Buying life insurance as a young person can be good for your wallet — as well as your family’s financial security. Typically, younger people are in better health, which means if you buy life insurance when you’re young, you’ll likely pay lower premiums for the same amount of coverage as someone who buys the same policy after they’ve had health problems.
Contact Prince Insurance to speak with an agent about picking the right type of life insurance for millennials depending on their lifestyle and to get a quote.