Sanlam Individual Life said that millennials are the ‘later’ generation, in that they are buying homes later, having children and getting married later and they often postpone buying insurance too. Sanlam stated that younger people can benefit from lower premiums. In addition, young people have long-term income earning potential that needs to be protected, because they are not exempt from severe illnesses or things that could go wrong. In addition, life cover will ensure one’s family is not liable for debt left behind once the policyholder dies.
