Premier Financial Alliance Shares Top Reasons Why Millennials Need Life Insurance

Premier Financial Alliance ReviewsIt’s not uncommon knowledge that the demographic known as Millennials are true game changers.  They’ve changed the game for many of the products and services that we use on a daily basis.   Every day, a new headline comes out about how Millennials are buying less of one product, but more of a different product. In comparison to their parents and even grandparents, Millennials are waiting longer before entering the workforce, delaying the major decision of purchasing a home, and even holding off until having children until much later in life.   While the statistics are true regarding Millennials playing the waiting game for most milestone purchases, one waiting game that can become detrimental is not purchasing life insurance while you are young.

Premier Financial Alliance offers its top reasons why Millennials should stop waiting and consider purchasing life insurance policies now.

Affordability Changes with Age & Health
Life insurance premiums use a number of factors to determine their cost.   Two of the most important factors include age and health. At a younger age, you are typically in better physical health and condition than someone looking to purchase life insurance in their 30’s or 40’s. As a young and healthy individual, you are less of a liability for an insurance company.   That is why it is best to lock in your premium rate as early as possible.

Funerals are Expensive
The average cost of funerals are currently ranging between $6,000 and $10,000. That’s a lot of money in general, let alone to have to shell out immediately and unexpectedly. Though the circumstances of your death may be out of your control, leaving someone to foot that bill can be a tall order to ask.   Even with a small life insurance policy, a little bit can go a long way in alleviating some of the pain of the cost.

Consider your Cosigners
It is no surprise that the current crop of recent graduates are saddled with an alarmingly huge bill for student loan debt.   For the foreseeable future, Millennials will be paying back thousands upon thousands of dollars that were borrowed for their education.   If you’re one of the many Millennials whose parents helped cosign their student loans so they could afford school, if you die suddenly, you co-signer is still responsible to repay that debt.   Purchasing life insurance and naming your co-signer as a beneficiary is a good idea to help cover any outstanding debts.

It’s okay if you wait a little to have a family or buy a house, but don’t wait until it’s too late to purchase life insurance. For more information or to check our Premier Financial Alliance financial advice tips at

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