48% of those who do not have insurance coverage said that they would like to enter into an agreement with LIC, but cannot afford such expenses. 66% of young people said insurance premiums were too expensive for them. Only 36% of respondents believe they do not need a life insurance policy.
Many millennials become parents or partners, so they need life insurance policies. Besides, insurance companies cover student loans if insured events occur with debtors. These are just a few of the reasons that motivate millennials to buy life insurance policies.
Source: https://www.cnbc.com/select/less-than-half-of-millennials-have-life-insurance/
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