Life insurance policies may be a lot more affordable for millennials than they think they are. Younger people tend to think about their long-term needs less, and the fees associated with benefits they won’t use now may sound high. But affordable life insurance is within your grasp, for far less than the price of a morning coffee.
If you can afford to grab that caffeine infusion each day, you can buy an inexpensive life insurance policy to secure your loved ones’ financial future. The national average for a cup of joe is $3.13.1 Millennials also spend about 44% of their total food budget on dining out.2
So how much does life insurance cost, and how does it compare to your spending habits? For example, the monthly price for a $250,000 20-year term life insurance policy can be just $14 for a 30-year-old woman, and $16 for a man of the same age.3,*
Consider how much you’re already spending on more expendable goods and services. Don’t assume that a benefit as important as life insurance is financially out of reach. When creating your budget, make affordable life insurance a priority for you and your loved ones – especially if you have a growing family, a mortgage, college loans and other debt.
Instead of leaving your family’s well-being to chance, help ensure they’ll remain financially secure, no matter what the future holds.