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Research Outline
Prepared for Cortney H. | Delivered October 30, 2019
Millennials' View on Insurance and Finance
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Goals
The goal is to find out what Millennials' perception is of finance and insurance.
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Early Findings
Just
10%
of
M
i
l
l
e
n
n
i
a
l
s
have enough life insurance coverage to take care of their loved ones' needs when they die, and
75%
of Millennial parents do not have life insurance at all.
M
i
l
l
e
n
n
i
a
l
s
know about life insurance, but it is
not a high priority
in comparison to student loan debt, daily life expenses, traveling, and even luxury purchases.
Other reasons
that
M
i
l
l
e
n
n
i
a
l
s
don't purchase life insurance include impatience with the intrusive sign-up process, false sense of security due to their age, and undervaluing the usefulness of life insurance.
16%
of
M
i
l
l
e
n
n
i
a
l
s
do not have health insurance, compared to
12%
of Gen X and
8%
of Baby Boomers.
60%
of uninsured
M
i
l
l
e
n
n
i
a
l
s
say it is too expensive.
One survey showed
that 50% of
M
i
l
l
e
n
n
i
a
l
s
have no idea if their credit score is good or bad, 76% considered themselves well-acquainted with their finances, and 2 out of 3 have at least one credit card.
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