This stereotype is undeniably unfair. The millennial generation consists of hard-working, responsible men and women who are trying to pave their way in a world full of challenges that are unique to their generation.
Part of paving your own way is deciding which traditions, methods, and investments you’ll pick up just as your parents and grandparents did, and which you’ll decide to do without.
One investment opportunity that a large percentage (almost 75 percent) of millennials have decided to put off is life insurance.
Whether you’ve been considering getting this type of coverage or not, here are five important life insurance facts to keep in mind:
Youth Makes No Promises
When you’re young, it’s hard to picture anything bad happening that might shorten your days.
However, youth is no guarantee that an accident or unexpected health issues won’t leave the ones you love in a vulnerable position in your absence.
Many young millennials have left children or a spouse behind without protection because they thought they had a long time left to worry about health insurance.
Social Fundraising Is No Guarantee
Fundraising sites like GoFundMe have been hugely influential in raising money for people in need should an unexpected injury or death occur.
But these sites offer no guarantee. The cause may not go viral, the money raised may not amount to much, or the costs may be more than bargained for.
Life Insurance Policies Are Available for a Budget
Perhaps you’re putting off life insurance for one simple reason: money. You may be waiting until you get a better salary before investing in something that doesn’t seem like a current concern.
The good news is that life insurance policies are available for almost every budget. You may not yet be able to pay for the million-dollar policy for your family just yet, but having any kind of policy in place will provide peace of mind.
Waiting Could Cost You in More Ways than One
Though you may be perfectly healthy now, you may develop a condition in the near future. If this happens, you may be surprised to find how much more you’ll have to pay each month for the same policy prior to becoming injured or ill.
Waiting is also risky because if you pass away, your loved ones will be left without the money they need to carry on without your support. The costs of a funeral alone can be draining.
It’s best to lock down a life insurance policy before things go awry.
An Agent Is Your Best Bet
If you don’t have a complete understanding of all the life insurance facts, don’t risk it by buying a policy online without first speaking with an agent.
A good agent can help you shop around for the policy best suited to your needs and budget while answering any questions you may have.
Get the Latest Life Insurance Facts
Even if you don’t feel ready to sign up right away, contact us to learn life insurance facts and possibly set up an appointment with one of our agents.
We want to help you make the decision that’s best for you and your family!