Generation Z refers to anyone born between 1997 and 2012. That makes the oldest member 25 years old at the time of writing and the youngest member 10 years old at the time of writing. It isn’t possible for anyone under the age of 18 to purchase life insurance themselves. However, for the adult members of Generation Z, life insurance could be important to consider.
Even if you don’t have a partner, children or other dependents right now, life insurance policies are generally cheaper when you’re younger and healthier. As you age and possibly develop health conditions, your premiums can rise significantly. For example, a 20-year-old non-smoker in good health could pay as little as £4.18 a month for life insurance. Whereas a 60-year-old non-smoker in good health could pay as much as £43.40 a month for life insurance.
It isn’t usual for 18 to 25-year-olds to consider the implications of their death. However, the truth is, tragedies happen every day regardless of age or health. Life insurance policies are intended to protect your loved ones from the financial burden that your death could otherwise impose. If you have a serious partner, children, or other dependents, life insurance would help them to pay off any debts, cover funeral expenses, and maintain their current standard of living if the worst were to happen.
You can compare life insurance options directly on our website and get a unique quote that is tailored to you.
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