Why are younger generations ignoring life cover?

21 Jul 2021

The younger generation of adults often named the invincibles (better known as millennials) are in danger of leaving behind crippling debt for their families if they happen to die early. The reason most do not have life cover is they believe that they are invincible, being younger and medically fit and healthy, they feel that life cover is not a necessity yet.

Also, many professionals in their 30’s and even 40’s are still single and feel that life cover is only needed if you have a family. 

  • Who will pay for your funeral?
  • Who will pay off your debt?
  • Who will look after your loved ones financially?

In this day and age it is quite clear that death can come to anyone and not just the elderly e.g. accidents, dread disease, global pandemics, and crime etc.

Why do you need life cover?

  • It will provide your family with financial stability when you are no longer around
  • It will pay off large debt like a mortgage
  • It provides for your children’s education
  • It will ensure that you leave an inheritance for your children
  • It gives you peace of mind knowing your family is taken care of
  • It will pay for your funeral costs

Life cover is an investment you make for your family and loved ones, that gives you peace of mind knowing that they will be taken care of financially, and not be left with your debt and funeral expenses. [email protected]

Please note, the above is for education purposes only and does not constitute advice. You should always contact your deVere adviser for a personal consultation.

* No liability can be accepted for any actions taken or refrained from being taken, as a result of reading the above.