LIFE INSURANCE FOR MILLENNIALS & GEN Z IN 2021
If you belong to the category of Millennials or Gen Z, you’re somewhat considered as the young ones of the generation. Especially Gen Z because the oldest age of this generation in the year 2021 is 24. Regardless, these 2 generations have been commonly attached as being the youth.
If you’re in this age demographic, especially the younger side, chances are you’re not planning that far ahead, you’re still enjoying your youth, and it’s not in your plans right now to build a family of your own. You’re putting your focus on your career and you’re healthy. In fact, many people from these generations don’t recognize the importance of life insurance. In a recent research made by the life insurance trade group LIMRA, results showed that half of millennials overestimate the cost of coverage and only 52% own life insurance, even though 80% recognize they need it. What Millennials and Gen Z people don’t realize is that it is better to start investing for Life Insurance at a young age.
It may be difficult to start investing for life insurance immediately because of unfamiliarity and the overwhelming number of providers and types of insurances in 2021, but once you have gained knowledge about the benefits of this and you identified your needs, you can get a better grasp on what you should provider should you choose to invest on.
When you’re in your 20s or 30s or a younger age in general, buying Life Insurance gets you access to lower premium rates that you won’t get when you start investing later in your life. Starting young saves you a ton of money from what you will spend on insurance in the course of your lifetime rather than starting late. Plus, you’d still be strong, active and healthy as you secure your future!
When you do decide to settle down and build a family of your own you’ll have your insurance plan to lean on, it can act as your income replacement and you’ll have financial security for your dependents!
One Life Insurance Company that is very reliable and caters to every needs is Manila Bankers Life Insurance Corporation
Manila Bankers Life Insurance Corporation has been around since 1967. It is a life insurance company duly recognized and authorized by the Philippine Insurance Commission. The company creates customized life insurance packages based on the requirement of its major and significant customers. They offer short-term and long-term plans for individuals and for families and companies. They are equipped with the friendliest and most helpful life insurance agents to help you figure out what plan best suits your needs.
2021 is the year for you! Start young! Get insured now! Grant yourself peace of mind as you go on and live your best life that’s waiting in front of you!
