Simply explaining Insurance #120. What millennials do NOT know about life insurance

I came across an article recently that had some interesting statistics. What better way to address these than do a simple podcast episode? The article listed three things that some Millenials do not know about life insurance.

35% of millennials do not know that life insurance costs less for a healthier person. It’s true! Part of being underwritten for a life insurance application is a medical exam. They do a cholesterol screen, blood pressure, height and weight, and a drug screen. The underwriters will reward you for living a healthy lifestyle.
39% don’t know that life insurance costs less for younger people. This is true as well. The younger you are, the less expensive life insurance is. It is one of the most important factors of determining cost. My experience is that clients start seeing the price spike significantly is when they are starting their policies after they are 40 years old.
50% of millennials state they haven’t purchased because “no one has approached me”. This is a call to everyone in my industry. We need to be having this conversation with everyone and I would encourage millennials to feel comfortable starting the conversation with your current agent.