10 Reasons Gen Z Should Consider Life Insurance Today

1. You have more to protect

The older you get, the more responsibility you have. College tuition, car loans, housing costs (maybe a mortgage… someday?) all on top of your regular monthly bills – it adds up quickly. Maybe you have a young family, or plan to have one soon. These are all examples of things that life insurance can help protect.
 

2. It’s cheaper when you’re young and healthy

It’s not #1 on the list, but this may be the most critical factor: the younger and healthier you are, the cheaper your life insurance can be. Life insurance policies are determined according to risk levels. Even if you maintain a healthy lifestyle well into your 40s, your policy will most likely be more expensive than in your 20s. 

Acting today and locking in your price for the future could prove to be one of the smartest financial choices you ever make.
 

3. It doesn’t have to be expensive

Even though policies are generally cheaper when you’re younger, your budget could be a factor if you’re just starting out. But coverage may not be as expensive as you think. Life insurance policies can be similar in monthly cost to a budget gym membership¹ or a couple of your favorite streaming services². 
 

4. It’s not that complicated

It’s not uncommon for someone of any age to find life insurance confusing. While there are different products tailored to specific needs, most products have the same general idea: it’s a contract between you and an insurance company that pays a sum of money to your beneficiaries after your death in exchange for monthly, quarterly or yearly payments. 

There is plenty of customization available depending on your situation, but life insurance is a way to help your loved ones, or anyone who depends on you, feel more secure in the future.
 

5. Employer-provided insurance may not be enough

If you have life insurance through your job, great! This is a common benefit that is often wise to take advantage of. But these policies are usually small (maybe one or two times your annual salary), and there isn’t much of a guarantee should your employer decide to change its benefits. If you change jobs, the coverage usually doesn’t follow you. 

By starting an individual policy: you own your policy. No matter what happens with your career, you're covered as long as your premium is paid.
 

6. Your bestie is considering it

No peer pressure here, but facts are facts: 44% of Gen Z adults surveyed by the Life Insurance Market Research Association’s 2023 study expressed interest in purchasing life insurance within the next year³.
 

7. You can apply online

Something about insurance just inspires thoughts of signing document after document in a cold-looking corporate office. AAA Life offers the ability to apply for life insurance online. Just answer a few questions, choose the coverage that works best for you and you’re well on your way.
 

8. It shows financial savvy

We’re not saying you should go bragging to your friends that you have life insurance coverage (we’re not saying you shouldn’t, either), but getting life insurance coverage is another box to check on your path to better financial wellness. You should take pride in having more peace of mind at a young age.
 

9. You can change your mind

While life insurance coverage can be long-lasting, it’s not set in stone once you’re covered. It isn’t unusual to upgrade to a better policy later in life, or even convert a term policy into a permanent one. 

In fact, it’s encouraged that you periodically review your situation to make sure your beneficiary information is current and that your policy meets your budget and your family’s needs. This is your coverage: it should last how long you want it to last and cover what you need it to cover.
 

10. You can trust AAA Life

What would a good list be without a plug? Hear us out: AAA Life has been helping people just like you find coverage that meets their needs since 1969. We take pride in delivering on our promise to be there for your loved ones when we’re needed most. 

See how easy AAA Life can make the life insurance process by getting a free, no-obligation quote today.

 

1.    How Much is the Average Cost of Gym Membership in 2023? ReliaBills. January 18, 2023.
2.    Smith, Cara. What Is the Best Streaming Service for You? See Prices and Plans. NerdWallet. May 24, 2023.
3.    Millennials and Gen Z Lead Growing Need for Life Insurance in 2023. Life Happens and LIMRA. April 2023.