Between school, budding careers and social media, Millennials keep very busy. One thing that is often far from their minds is life insurance. But there’s no better time to purchase life insurance than as a young adult. Why?
Many Millennials think that because they’re young and healthy, coverage is not necessary. However, that’s the best reason to buy it now. Age and health are two of the biggest factors that go into determining premiums, so buying now helps save money in the long run.
Even if a young adult doesn’t currently have dependents, it’s likely that the future holds marriage and/or children. Buying coverage now not only helps a policyholder save, but it also helps one prepare for a future that holds more responsibilities. With many policies, coverage can be adjusted as needs change, but it’s always more affordable to buy it earlier in life.
While the price may be lower at a younger age, many Millennials are faced with debt from student loans and other expenses (while just starting their careers). They may not be prepared to take on another monthly bill. But it’s important to note that life insurance provides dollars for pennies. And many policies are available for less than a dollar per day.
We know that life insurance isn’t the most attractive topic and there are probably very few Millennials browsing our blog. But this information is valuable and can enhance their lives in ways that they may not know about. If there’s a young adult in your life, share this information so he or she can prepare for whatever the future may hold.
Still have questions? Call Abbott Insurance Agency, LLC. at 612-824-1160 for more information on life insurance.
