---
title: How to Promote Life Insurance to Employees Under the Age of 40
description: As an employer, here are three reasons why anyone under 40 should take advantage of life insurance in your organization’s employee benefit package.
image: https://www.lgplanninggroup.com/hubfs/AdobeStock_134462053.jpeg
---

 2

# How to Promote Life Insurance to Employees Under the Age of 40

 Apr 5, 2023 3:47:58 PM

By [Matthew Glazer](https://www.lgplanninggroup.com/blog/author/matthew-glazer)

If you’re like the many organizations that we help with their employee benefit packages, investing substantial resources to put together attractive benefits packages for employees is key to attracting talent. And one popular, but often under-utilized benefit, when trying to entice the promise of financial security for loved ones, is life insurance.

Why is this? The generational shift taking place in the workforce has led to some younger workers questioning the need for life insurance. A recent Princeton survey found that 65% of employees under the age of 40 don’t have life insurance.

Some of the factors behind these statistics may be shifts in income and lifestyles. Large numbers of millennials are entering the workforce with a significant amount of student loan debt, and many are delaying traditional adult milestones like getting married, having children, and purchasing a house.

Yet while these attitudes may seem to lessen the immediate need for life insurance for millennials, they are not entirely turning millennials away from the idea of life insurance.

 

**Reasons to Buy Life Insurance **

These numbers suggest that younger employees are not averse to life insurance, they just need to be sure of its value before signing up. With that in mind, here are some reasons that you can use to encourage millennial employees to purchase life insurance.

 

**Cost **

In general, life insurance gets more expensive as a person ages. A 25-year-old person in good health can find a sizable six-figure term life policy for just a few hundred dollars a year. For a senior citizen, that same coverage can cost thousands more.

While there is no hard reference point for the start of Gen Y, the oldest millennials are now approaching their mid-30s, and the window may be closing on the time for them to get the best rates.

 

**Dependent Protection**

Although some millennials are delaying getting married and having children, that doesn’t mean all of them are, nor does it mean they are delaying these events forever. Life insurance should be attractive for anyone with dependents regardless of his or her age. The reality is that few people have savings that their dependents could live off should they die unexpectedly.

 

**Financial Protection**

It’s no secret that today’s college graduates are burdened with record-breaking amounts of student loan debt. If something were to happen to employees that included their parents as financial cosigners, their parents would be responsible for the outstanding balances. Similarly, a newlywed spouse of an employee who has joint credit card debt or mortgage debt would be responsible for the entire sum should the employee die. Moreover, the average funeral costs between $6,000 and $10,000.

Buying enough life insurance can help take care of these financial issues. A relatively small life insurance policy can help employees mitigate these concerns and keep them invested in your company for years to come.

 

**LG Planning Group Is Here to Help**

If you need more information or guidance on offering life insurance products within your employee benefits package, please contact [Matt Glazer](mailto:info@lgplanninggroup.com) or call **631-589-6960 **today.

* *

*Disclaimer: This article is provided by LG Planning Group for informational purposes only **and is not intended to be exhaustive nor should any discussion or opinions be construed as professional advice.  **© **2015, 2019-202 ** Zywave, Inc. All rights reserved.***

[life insurance](https://www.lgplanninggroup.com/blog/tag/life-insurance) [Employee Benefits](https://www.lgplanninggroup.com/blog/tag/employee-benefits)

![Matthew Glazer](https://www.lgplanninggroup.com/hs-fs/hubfs/Matthew%20Glazer%5B1%5D.jpeg?width=150&height=150&name=Matthew%20Glazer%5B1%5D.jpeg)

[Matthew Glazer](https://www.lgplanninggroup.com/blog/author/matthew-glazer)  / About Author

Matthew Glazer, Co-Founder and Co-Managing Partner at LG Planning Group, is a 20+ year veteran of the financial services and insurance industries. Matthew’s experience has positioned him to be the primary business development director with a specialized focus on finding and creating new ways to more completely service and protect LG Planning’s clients businesses and personal futures. Matthew excels at not only understanding and fulfilling the needs of his clients but also at putting together the pieces to help build comprehensive growth, management and maintenance packages. With a well-rounded top to bottom approach, Matthew is able to help his clients navigate both their business and personal journeys.

[![](https://www.lgplanninggroup.com/hs-fs/hubfs/AdobeStock_115260392.jpeg?width=150&height=150&name=AdobeStock_115260392.jpeg) Previous Article The Real State of the Property and Casualty Insurance Market? ](https://www.lgplanninggroup.com/blog/the-real-state-of-the-property-and-casualty-insurance-market)

[![](https://www.lgplanninggroup.com/hs-fs/hubfs/AdobeStock_486517430.jpeg?width=150&height=150&name=AdobeStock_486517430.jpeg) Next Article Considerations for Switching to a Self-funded Health Plan ](https://www.lgplanninggroup.com/blog/considerations-for-switching-to-a-self-funded-health-plan)

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