Millennials biggest concern?
- Paying monthly bills
- Worrying about dependents if they die prematurely
- Money for retirement
- Reducing debt
Meeting monthly expenses is real. Half of Millennials say they would have trouble if the primary earner passes.
Life insurance is there to support your loved ones if something unfortunate happens. Only about half of Millennials own life insurance and a quarter of them have it through their job.
- 1 in 4 Millennials admit they do not have enough life insurance
- 1 in 10 do not know if they have coverage
- 41% wish their spouse or partner had more coverage
Millennials are adaptive and open to solving future financial problems.
- Over 60% said they are worried about paying for long term care services
- 40% said they would be interested in combining life and long term care insurance
Millennials think life insurance is too expensive, but majority overestimate the cost.
Half of Millennials say mortgage and bills keep them from buying life insurance. But how would those cost be covered if they were to die prematurely?
Talk to one of the Quantum producers today, www.quantumagencies.com