Life insurance! That’s something for older and wealthy people, right? No. In fact, every adult, young or old, should have at least some type of life insurance. Why would a single or married 20-something need life insurance. The reason is life insurance isn’t something you buy for yourself. It’s something you buy for the people you love. Here are the top 4 reason why millennials need life insurance:

1. People who depend on you. Whether you have children or not, you probably still have people that depend on you. A spouse or significant other? Their lives would be affected significantly if you were to die. Not only would they be dealing with grief, but financial stress because of the loss of your income.


2. Cost of life insurance are lower. Since you are young and healthy, you can be considered a low-risk client for a life insurance carriers. Low-risk means better rates. Life insurance can be inexpensive when you are young, healthy and a non-smoker. The longer you wait the more likely it is for insurance premiums are to go up as you get older.


3. You have debt. Millennials have a lot of student loan debt. If you are one of the few who don’t have student loans you are fortunate. You want to protect your love ones from having to be responsible for paying any of your debt whether its loans, mortgage or credit cards.


4. The cost of funerals can be expensive now a days. Someone will have to cover the expenses of your funeral, whether you’re married or not. Funerals can cost anywhere from $5,000 - $15,000. Life insurance will take this financial burden off of your loved ones.

There are several reasons and benefits to purchasing a life insurance policy while you are still young and healthy. Cosmo Insurance Agency will be able to help you select the policy that best meets your individual needs, budget, and financial goals.

Call Cosmo today, to speak with a life insurance representative!

Cosmo Insurance Agency is an independent insurance agency serving surrounding communities in New Jersey. Cosmo keeps its promise to assure an efficient and creative approach to the services we offer. Each of our clients experience a personalized and long-term relationship with us. Our New Jersey based team of health brokers guides our clients in helping them choose the most cost-effective options. By incorporating the latest in technology-based tools and laws on healthcare, employee benefits, life insurance and finance, we keep our clients up-to-date with the plans that encompass all of their needs, whether it is individual or group insurance. 






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