Young Uninsureds — It Won’t Happen to Me

Twenty-four percent of Millennials (age 18 to 29) have no health insurance, according to a report by insuranceQuotes.com. That compares to 16% of all adults without health insurance. Millenials are not just ignoring health insurance. They are also less likely  to have auto, life, homeowner’s, renter’s, and disability insurance compared to all other age groups. Only 12% have renter’s insurance, which costs only around $10 per month, in many cases, while providing valuable protection. Sixty-four percent of 18- to 29 year-olds have no life insurance. The most common explanation was that it costs too much, but $500,000 of 20-year level term life insurance can cost less than $20 per month for a young adult. The second-most common response objection is, “I’m healthy and don’t need life insurance.” Even car insurance is not particularly popular among Millennials.

Even though car insurance is mandatory in all states except for New Hampshire, 36% of Millennials don’t have it. This might be because the number of young adult drivers has fallen in recent years. Despite evidence to the contrary, Millennials say they are prepared for the financial consequences of getting into car accidents, having their belongings stolen, incurring substantial medical bills, or becoming disabled. For more information, visit http://www.insurancequotes.com/health/Millennials-and-insurance

Last Updated 10/21/2020

Arch Apple Financial Services | Individual & Family Health Plans, Affordable Care California, Group Medical Insurance, California Health Insurance Exchange Marketplace, Medicare Supplements, HMO & PPO Health Care Plans, Long Term Care & Disability Insurance, Life Insurance, Dental Insurance, Vision Insurance, Employee Benefits, Affordable Care Act Assistance, Health Benefits Exchange, Buy Health Insurance, Health Care Reform Plans, Insurance Agency, Westminster, Costa Mesa, Huntington Beach, Fountain Valley, Irvine, Santa Ana, Tustin, Aliso Viejo, Laguna Hills, Laguna Beach, Laguna Woods, Long Beach, Orange, Tustin Foothills, Seal Beach, Anaheim, Newport Beach, Yorba Linda, Placentia, Brea, La Habra, Orange County CA

12312 Pentagon Street - Garden Grove, CA 92841-3327 - Tel: 714.638.0853 - 800.731.2590
Email:
Jay@ArchApple.com
Copyright @ 2015 - Website Design and Search Engine Optimization by Blitz Mogul