4 Reasons why Insurance is Important for Millennials

Queenews.com- Who says insurance is only for people who are married or have families? Millennials can really be confident, really! Instead of spending money to meet life’s needs, it’s better to prepare insurance now.

Now, let’s look at 4 reasons why insurance is important for Millennials!

Today’s millennial lifestyle

“Millennial” is a description of a generation that has grown up using technology, spends a lot of time on social media, and loves to travel.

Additionally, based on data collected through Good News From Indonesia 2020, Millennials are the generation that loves online shopping and is at the top. That’s the result of 47 million Millennial Internet users, 7.8 million of whom, or 17%, prefer to shop online. From the above data, we can conclude that today’s Millennials are inseparable from a consumer lifestyle dominated by online shopping. If this practice continues over the long term, it will inevitably cause financial disruption and Millennials will be less able to maximize their savings, insurance and investment opportunities.

4 reasons why insurance is important for Millennials

If they want to benefit from life and health protection in the future, Millennials need to prepare insurance from a young age. Here are 4 reasons why insurance is important for Millennials:

Insurance costs are cheaper

If you decide to get insurance at a young age, the premium you pay will be much cheaper. Health problems that remain well into your 20s and 30s are why insurance premiums are cheap. It will be different if you have insurance at the age of 40 or 50, the company will charge a higher premium because your health condition is different than when you were young and the risk of exposure to disease is higher as a student.

Provides protection

Insurance will protect you when you encounter risks in the future. The protection you receive certainly depends on the type of insurance you choose: if you choose health insurance, you will have health care protection. Meanwhile, with life insurance, the insurance company will bear the risk in case the customer dies. By preparing insurance in advance, you don’t have to worry about losses due to the uncertainty of what will happen in the future.

Greater opportunity to apply for insurance

If you take out insurance at a young age, your chances of being accepted by the insurance company will be higher, because it is assumed that you are in good health and do not have comorbidities. On the other hand, if you buy insurance at the age of 40.50, the insurance company will strictly select candidates. Indeed, at this age, a person has a higher risk of illness and death.

To manage finances

Instead of buying coffee and trendy boba drinks every day, you can put your finances into useful things, like insurance. By purchasing insurance, you can use money normally used for living purposes just to pay the insurance premium each month. This way, you can feel the benefits and receive protection in the future.

Leave a Reply

Your email address will not be published. Required fields are marked *