Millennials skipping life insurance

Your Money Matters

Fewer young people are buying life insurance.

A study in 2018 showed only 10% of Millennials say they have enough life insurance in place to cover self-reported needs should they die.

Now, experts are saying people in their 20’s and 30’s should be buying into a policy sooner than later.

According to Policy-Genius, life insurance premiums go up 8 to 10 percent every year you postpone getting a policy. However, if you buy early the costs are fairly low.

The average 30 year old man will spend about 26-dollars a month for a 500-thousand dollar plan, while a woman the same age will pay about 21 dollars.

Copyright 2019 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Trending Stories


 

Don't Miss!

More Don't Miss

Our Contests

More Contests