In our research, we found that 50% Millennials have witnessed weaker economic growth than previous generations and are also bearing the consequences of decisions taken by the older generation, like the global financial crisis and rising national debt. Also, they have lesser confidence in the employer pension scheme. At the same time since longevity is increasing because of better medical facilities, they need to invest in a long term plan and pension plan so that they don’t run out of money in twilight years.
To validate this research, we asked this question from insurance fraternity whether millennials should invest in a long term insurance plan or pension plans. 70% of Insurance experts confirmed our belief that millennials should invest in long term insurance plans.
