The number of young people who are buying life insurance is at an all-time low, says life specialist LifeSearch.
Life insurance, Critical Illness and Income Protection are all less expensive for younger people age 25 and under, not only because of age, but also because younger people are likely to be healthier, which keeps premiums low. Yet despite this price advantage young people are not buying.
LifeSearch‘s Matt Morris says, "Many younger people have debts, mortgages and families that need financial protection in the event of the main income provider being unable to work."
Life insurance: News update: 23/02/2009