If you’re a millennial, you know what it’s like to have technology at your fingertips— literally. This is the generation that has grown up plugged into the Internet, and many of you have spent the majority of your lives in front of a computer.
Yet IRL (in real life), despite being the most technological-savvy generation, you’re also the most underinsured. Roughly 25% of all Gen Yers (18-29) don’t have health insurance. So it’s not surprising that millennials are also less likely to have life insurance. In today’s blog post, we’re going to discuss the reasons why millennials should invest in life insurance, and three ways you can maximize your policies.
1) Buy your own insurance: If you’re thinking that you don’t need additional life insurance because you have a policy through your job, that’s a costly assumption to make. What happens if you get laid off or fired? Once your position dissolves, so does your coverage, leaving you vulnerable.
We know that since you’re young, you may feel invincible at times (we were young at one time, too), but accidents and unforeseen bad fortune don’t discriminate when it comes to age.
Another advantage of your youth, besides having more energy and bouncing back quicker from a hangover, is the lower rates. The younger you are, the less of a health risk you are, which means lower rates.