Learn and Plan | Gen Z's Guide to Navigating Life Insurance
A young man and woman looking at life insurance options

Gen Z's Guide to Navigating Life Insurance

Mar 25, 2024, 8:28:00 PM | Reading Time: 4 min

If you're part of Generation Z, you might be wondering if life insurance and the death benefit protection it offers is something you really need to think about. After all, you're in the prime of your life and probably healthier than ever. If you’re part of this generation, you may be thinking, why would I need life insurance?

However, life has its way of throwing curveballs, and that's exactly where life insurance comes into play. It's not just about planning for the unexpected, like sudden illness or accidents, but also about protecting the people who matter most to you. Whether you're newly engaged, married, or starting a family, having life insurance is a crucial step in planning for their financial security.

But even if those milestones aren't on your radar yet, life insurance can still be a smart financial move. It can be a way to start building wealth that you can pass on or tap into later in life. Plus, it can help ensure that you won't leave behind any financial burdens for your family to handle.

Knowing the different types of life insurance available is the first step in deciding what works best for your lifestyle.

Term Life Insurance is a budget-friendly choice. It can cover you for a specific time period, say 10 to 30 years. If something happens to you within this period, your beneficiary gets a payout. The flip side? Once the term is up, premiums increase in order to keep the coverage.

Permanent Life Insurance, on the other hand, is more of a lifelong commitment. It's pricier, but it can build cash value over time and provide provide coverage for a lifetime as long as the planned premium amount is sufficient and paid on time. This can be a great tool to help with long-term wealth building and ensure ongoing financial support for your dependents.

Weighing the Pros and Cons for Gen Z:

The benefits and drawbacks of a life insurance policy can vary, so be sure to do your research before deciding.


  • It can be a way to protect your loved ones financially.
  • Potentially lower rates while you're young and healthy.
  • Choose a plan that fits your budget.
  • Start building a financial legacy early on.
  • Can help cover debts, like student loans, so they don't fall to your family.


  • Depending on your choice, it can be a bit of an investment.
  • There's a chance you might not use the coverage.
  • Finding the right policy can be daunting without the right guidance.

What Do I Do Now?

If you're thinking about diving into the world of life insurance, we recommend chatting with a financial professional. Find a Midland National agent to help you navigate your options and find the best fit for your life and goals.

The term financial professional is not intended to imply engagement in an advisory business in which compensation is not related to sales. Financial professionals that are insurance licensed will be paid a commission on the sale of an insurance product


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