Young adults looking beyond the pay out: Vitality

The research showed that 58% of Gen Z and 49% of Millennials would consider life insurance, with income protection (36% and 32%, respectively) and serious illness cover (25% and 23%) also of interest. The key reason for Millennials to take out protection was to protect financial wellbeing, at 38% for the group. Gen Z also prioritised this aspect, with 31% citing it as a reason for taking out a policy. However, the key reason for Gen Z's interest in protection was to have a policy in case of illness, at 32%. Justin Taurog, CEO, VitalityLife, said: "Our latest research gives us a rea...