"Gen Z and millennials will get life insurance if it's super cheap or free. But the thought of having to pay for it when they still can't afford to buy a home doesn't make sense to them."
"They're getting married later, having children later, not [making] financial decisions like [buying] a home or something of that nature. They tend to either put more away, like in the 401K, or they tend to open up their own type of investment accounts and take that extra money and put it away."
Rising housing costs and stagnant wages are causing Gen Zers and millennials to postpone significant life events like home buying and parenthood. Many are choosing to travel or make large purchases instead. A Capgemini report indicates that while nearly 70% of adults under 40 view life insurance as essential, current options do not align with their financial priorities. Consequently, many forgo life insurance. The study reveals that 63% of respondents have no immediate marriage plans, and 84% do not plan to have children soon.
Read at Fortune
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