Why do millennials need insurance?
Buying a funeral plan is generally the last thing on your mind when young and just starting. Young adults are probably more worried about where to go this weekend than comparing the ideal insurance packages.
Millennials often assume they do not require funeral coverage as they are still young and healthy. The majority are driven by their careers, and they may indeed be so busy trying to save money for the future and taking on more commitments that it may seem early to consider death. Prevention is better than cure. Just as old people need protection, so do we.
In a recent interview on Metro FM, CEO Ratau Mphahlele encouraged young adults to consider funeral coverage as early as age 21 because it is more affordable. He emphasized that planning for an uncertain future is essential since the death of a loved one is stressful and can cause a huge financial burden for the family. “In terms of planning for the future, insurance is more important than we think, especially when you’re faced with responsibilities,” he added.
Get more coverage for less money. Furthermore, purchasing coverage at a young age is less expensive than acquiring it later in life.
Still not sure if you need a funeral plan? Here are three (3) key takeaways from the CEO to consider:
It’s more affordable for millennials.
- For one thing, because you are deemed low-risk, you will be able to get complete coverage at a considerably lower cost.
It covers the immediate funeral expenses.
- Even if you have no dependents and no outstanding obligations, someone will need to pay for your appropriate burial and/or funeral expenses. Today, the average funeral service can cost up to R26 000. A modest funeral policy, even one with a modest R15,000 death benefit and a relatively low monthly premium, can help pay for these expenses.
Support dependent
- Begin early in your preparation and secure yourself and your dependents with appropriate insurance plans.
Provides reassurance
- There will be no more stress or tension during difficult times. A funeral plan provides both financial stability and comfort of mind. No amount of money can compensate for your peace of mind. Be assured of a dignified, high-quality service with Baroka Funerals.
Make the right choice Today!
Get a dignified burial at Baroka Funeral from R80* a month.
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