Millennials are notorious for not wanting to own a thing. In fact, there is an entirely new way of living thanks to this age bracket. With the desire to roam free, travel abroad, and avoid being tied down, insurance responsibilities are seen as heavy chains. However, life insurance in Pompano Beach is something completely different and should be considered with great care. As a grandparent, you want the best for your grandchild and may worry that they are far too carefree to be sustainable for the future. 

What Should My Grandchild Know About Life Insurance Quotes in Pompano Beach? 

According to global research firm LIMRA, 20% of millennials say that they will buy life insurance. Higher priorities include technology, Internet bills, and vacations are more important. If your grandchild is a millennial, there are a few thoughts about life insurance you may want share with them, such as their own earthly departure. We know it sounds morbid, but it’s certainly something to think about. Life insurance helps to cover funeral expenses, which can be quite expensive, as well as any income that they are using to support their families.  

Leaving our families with financial pressures, alongside emotional withdrawal is heartbreaking. Life insurance ensures that though they may not be around to help their family emotionally, they’ll still have been able to help them financially. One of the best options for millennials is term life insurance, which essentially will provide coverage for a period of time, but is not extremely expensive. The quote for this type of insurance may be as low as $40 a month for a healthy person in their twenties. Another quotable life insurance option is permanent life insurance, which is much more expensive, but the benefits will stretch long past twenty to thirty years.  

When giving advice to your grandchild about life insurance, it can be complicated to know exactly where to guide them. Therefore, it’s crucial that they talk to a professional. Life insurance isn’t a small commitment. It’s going to be a plan that sticks with them throughout their adult lives. Choosing a plan that gives them enough protection, while still fitting into their financial means can be tricky. If you have questions about life insurance quotes in Pompano Beach, call our team today and see how we can be of valuable service.  

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