Welcome to Quotacy’s Q&A Friday where we answer your life insurance questions. Quotacy is an online life insurance broker where you can get life insurance on your terms. I’m Jeanna and I’m Natasha Today’s question is: why do Millennials need life insurance? A Millennial is anyone born between 1981 and 1996, making them today between the ages of 23 and 38. Many Millennials think they’re too young for life insurance, but this just simply just isn’t true. The need for life insurance is not determined by your age. It’s determined by whether or not anyone depends on you. If a Millennial is married or has a domestic partner, then they have someone who relies on them. If a Millennial has children, then life insurance is incredibly important. If a Millennial wants children in the near future, life insurance is definitely something to look into now. Term life insurance for people between the ages of 23 and 38 is very affordable. Life insurance rates are currently at an all time low. For example, a 30-year-old healthy couple could buy $500,000 of term life insurance that would last them 30 years for about $30 per month each. And with a traditional term life insurance policy, this premium amount is locked in for the entire 30 years. Your price will never go up during the term. But while life insurance rates are at an all time low currently, we don’t know when they’ll go up. A new report by Moody’s Analytics revealed that Millennials unfortunately face much higher mortality rates than their predecessors Generation X. Specifically, the research found that Millennials’ physical and mental health is declining faster than that of Generation X, essentially killing them sooner rather than later. The report revealed that Millennials face troubling health conditions such as high blood pressure and high cholesterol, major depression, and hyperactivity. While these conditions are very treatable, the cost of healthcare is skyrocketing. And as these young adults need to take time off work to pay attention to their health, unemployment is increasing while their income is not. The stress of trying to be able to afford taking care of themselves is contributing to a vicious cycle of even greater prevalence of these physical and mental health conditions. Life insurance rates are based on the mortality rates within certain groups of people. Because the current young adult generation as a whole just lost years of their life with one report, who knows how this will affect the life insurance industry. Life insurance rates for Millennials are extremely affordable right now. With their mortality rates increasing as a whole, it makes sense that life insurance rates may also increase. There is no time like the present to buy life insurance. Quotacy makes it easy. Pop in a few pieces of information and get term life insurance quotes. No need to even give away contact information until you’re ready to send in that online application. You’ll be assigned to a dedicated Quotacy agent that will do behind the scenes work to make sure you’re getting the best price life insurance. They comparison shop so you don’t need to spend the time doing it yourself. After getting a final policy offer from your chosen life insurance company, if you aren’t happy with it, your Quotacy agent will work with you to find a better option. You can even walk away if you decide that’s what’s best for you. No cancellation fees, no hurt feelings, no stress. So, what are you waiting for? If there is anyone who financially relies on you, or if you want to start a family soon, go get yourself a term life insurance quote. Thanks for watching. If you have any questions about life insurance, make sure to leave us a comment. And if you have any questions regarding today’s topic, check out the blog link posted below. And if you’re ready to get quotes, check out Quotacy.com. We’re here to help you find the best deal on the life insurance you want. Bye! Thanks for sticking around. We’d appreciate it if you liked the video and hit that fancy little Subscribe button to see us every week. Bye!