A Millennial are all born between 1981 and 1996, making them today between 23 and 38 years old. Many Millennials think they are too young for life insurance, but that is simply not true.
The need for life insurance is not determined by your age. It is determined by whether or not someone is dependent on you.
»Calculate: Life Insurance Needs Calculator
If a Millennial is married or has a partner, they have someone to trust them.
If a Millennial has children, life insurance is incredibly important.
If a Millennial wants children in the near future, life insurance is definitely something to look at now.
Life insurance for people between the ages of 23 and 38 is very affordable . Life insurance rates are currently at the lowest level ever.
For example, a 30-year-old healthy couple can buy $ 500,000 of life insurance policies that would be enough for them for 30 years for about $ 30 per month each.
And with a traditional life insurance policy, this premium amount is locked for a full 30 years. Your price will never rise during the term.
But even though life insurance prices are at the lowest level at the moment, we do not know when they will rise.
A new report from Moody & # 39 ;s Analytics revealed that Millennials unfortunately faces much higher mortality than their predecessor Generation X.
Specifically, the research found that Millennials' physical and mental health are declining faster than Generation X, which essentially kills them sooner rather than later. The report revealed that Millennials face worrying health conditions such as high blood pressure and high cholesterol, major depression and hyperactivity.
Although these conditions are very treatable, the cost of healthcare is skyrocketing. And because these young adults need to take time off work to pay attention to their health, unemployment is rising while their income is not. The stress of trying to afford to take care of oneself contributes to a vicious circle of even greater prevalence of these physical and mental health conditions.
Life insurance rates are based on mortality in certain groups of people. Because the current young adult generation as a whole just lost years of their lives with a report, who knows how this will affect the life insurance industry.
Life insurance rates for Millennials are extremely affordable right now. When their mortality rate increases as a whole, it makes sense that life insurance rates can also increase.
»Compare: Thermal life insurance policies
There is no time like now to buy life insurance policies. Quoting makes it easy.
Submit some information and get quotes on life insurance policies. You do not even have to give out contact information until you are ready to submit that online application.
You will be assigned a dedicated Quotacy agent who will work behind the scenes to ensure you get the best price life insurance. They compare stores so you do not have to spend time doing it yourself.
If you are not happy with it after receiving a final insurance quote from your chosen life insurance company, your Quotacy agent will work with you to find a better alternative.
You can even go from there if you decide it's best for you. No cancellation fees, no hurt feelings, no stress.
So, what are you waiting for? 19659002] If you have any questions about life insurance, be sure to leave a comment to us. And if you're ready to get quotes, check out Quotacy.com. We're here to help you find the best deal on life insurance you want.
Photo credit to: London Scout