Life Insurance for Millennials

Being a Millennial seems to be the topic of conversation lately within companies. Millennials are important for many different reasons. The Millennials are one of the most important generations in the workforce. They are smart consumers and make up a big percentage of company workforces. Millennials understand the importance of being prepared for the now and for the future.

Who are these Millennials? Millennials are individuals born in the 1980’s and 1990’s and in 2016, this generation surpassed the Baby Boomers as the nation’s largest generation. A Millennial is anyone that falls in the category range of first-year college students, to a young adults & established professionals in their mid-30s.  Despite the fact that this group of young professionals has the reputation of delaying life milestones such as buying a home, marriage and children, they still have the desire and need to be financially secure.

One thing that can put a Millennial’s mind at ease is Term Life Insurance.  Term Life Insurance is very affordable even for Millennials. There are insurance carriers that offer no medical exam options. The pricing for these policies is very affordable and there are also Accelerated Benefits Riders available that protect the policyholder if he or she becomes ill and needs to use a portion of their policy towards critical illness care.

Millennials want to protect their families and their assets. No one knows how long they will live or when they will die. The life policy protects them while they are living and protects their loved ones when they die. A Millennial’s loved ones can perpetuate their legacy and maintain their day to day life everyday as it was before their loss.

Another draw for Millennials, who have an affinity for technology, is the online services offered by the carriers that make it easy to check policy coverages at any time.  If you are a Millennial who still needs convincing about the benefits of life insurance, here are 5 things you need to consider:

  1. Life insurance is a form of protection.
  2. College debt may not go away. If someone like your parents helped you co-sign any of your loans, that debt will be transferred to them in the event of your passing.
  3. Don’t buy life insurance on the internet. You should speak to someone who can educate you on purchasing the right amount of coverage for the right amount of term years.
  4. Social fundraising only goes so far. Internet based systems such as GoFundMe do not carry a guarantee on how much can be collected to help your family.
  5. No one can predict the future. Protect yourself and your loved ones now. The process is easy and will give you peace of mind knowing that you have protected yourself and the people that mean the most to you.

If you are looking for more information on life insurance, contact a life insurance agent to better understand what you will need to properly protect you, and what products are available for you. You may be surprised at what you actually need vs. what you thought you needed.  For more information about Life Insurance, call your agent or the FBinsure Benefits Department.