People say a lot of things about Millennials. Some of them fall into the “it’s funny because it’s true” category—what can we say, we really do love brunch, and if the menu includes avocado toast, we might just order it…with a local kombucha or a house-made bloody mary in a mason jar on the side.
Others, however, like the suggestion that members of our generation may lack the skills required to be functional adults, seem a little unfair. Sure, we may refer to those skills as “#adulting” (hey, hashtags are part of our vernacular) but that doesn’t mean we don’t have them. Millennials aren’t avoiding adulthood…we’re just updating it. And at Our Life Covered℠, our goal is to help make life insurance part of that fresh new look.
That’s right. Even if you’re young, healthy, and sporting the glow of a daily green smoothie regimen, it’s a good idea to consider getting life insurance. Yes, it’s a great way to show the haters that you’re actually crushing it at adulthood, but there are other reasons, too. Here are a few of them.
Don’t leave your loved ones with the tab
It’s pretty easy to come up with excuses for putting off life insurance, especially if you don’t have children who rely on your income. But the truth is, if there’s anyone in your life who could be affected financially by your death, it’s important to consider getting covered.
If you have student loan debt (and let’s face it, what’s more Millennial than that?), your family could be responsible for paying at least part of it off if you were to pass away.
At the very least, think about the cost of a funeral—an average of $8,000-10,000. That’s not exactly a small expense, especially if it comes unexpectedly. Life insurance may help cover the bill so it doesn’t all fall on your parents, your partner, or someone else who loves you.
Same rate ’til the expiration date
Another compelling reason to get life insurance while you’re young is that age affects premiums. The younger you are, the lower your rates are likely to be…and the best part about that is that as long as you stay current with payments, those rates are typically locked in for the duration of your policy.
So if you buy a 20-year term life policy when you’re 25, you could be making the same monthly payments until you’re 45. There aren’t many things that stay the same price for twenty years…so you might want to jump on the opportunity!
By the way...
Speaking of the cost of life insurance…did you know that 44% of Millennials overestimate it by five times the actual amount? We may be well-informed about a lot of things, but life insurance apparently isn’t one of them.
In reality, you may be able to find coverage that meets your needs for less than you spend on your latte habit.
Life insurance for modern life
When you peel away all the generational stereotypes, being a grown-up essentially means that you’re able to take care of not only yourself, but also of anyone who may depend on you. Life insurance can be an important piece of that puzzle.
It may be true that many of us don’t have the same life skills our parents carried into early adulthood with them, but that could be because some of those skills just aren’t as important as they used to be.
Maybe not all all of us are great at cooking dinner from scratch or figuring out which direction is north or sticking to a well-planned weekly supermarket schedule, but we do know which apps to download if we want to subscribe to a healthy meal kit program, get where we need to go, or have groceries delivered to our doors.
We don’t always cook or drive or buy groceries the same way our parents and grandparents did, so it stands to reason that we might not want to shop for life insurance the same way, either. That’s where we come in.
The OLC difference
At Our Life Covered℠, you can get a no-obligation quote almost as quickly as you can refresh your Instagram feed. And if you decide to move forward, there’s no need to schedule an appointment or drive to someone’s office to listen to a long-winded pitch and fill out a mountain of paperwork.
Our agents are available via phone (888-828-9760), text (636-590-7416), email or even live chat, so you decide when and how, and they’ll be happy to answer your questions and help guide you through the application process.