Millennials More Likely to Buy Flood Insurance Than Baby Boomers

WASHINGTON, Dec. 7, 2017 /PRNewswire/ — Millennials are more likely to make. products and brands. "Baby Boomers have already gotten set in their ways in regards to the brands they prefer, so an ad.

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 · A new survey conducted by the National Association of Insurance Commissioners (NAIC) reports on the generational gap when it comes to the importance of purchasing flood insurance. You can find more information by reading Millennials More Likely to Buy Flood Insurance Than Baby Boomers on insurance journal.com.

While baby boomers have had more time to build wealth and buy a home, this result is indicative of the fact that millennials are spending more time renting and waiting longer than ever to buy.

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Baby Boomers typically spend more time and money than other generations on travel, but they’re more concerned about unexpected reasons that might cause them to miss a trip, such as health issues. More than a third of boomers buy insurance for trip cancellation, while a quarter of them purchase it in case they get sick or have a medical.

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compared to nearly three-fourths of baby boomers. Nearly half of millennials are renting, compared to less than a quarter of boomers. Millennials pay more a month for housing – more millennials than.

The Global Millennial Survey conducted by Deloitte over an eight year period reveals what is most important to Millennials and Gen Z in both work and personal life. Insurance Journal. Millennials More Likely to Buy Flood Insurance Than Baby Boomers;. National Flood Insurance Program Is.

LIMRA’s study, The Purchase Funnel, explores why people buy and how they purchase life insurance. This report finds Millennials are more likely to work with a financial professional than older generations (38 percent of Millennials versus 34 percent of Gen X, 31 percent of Baby Boomers and 28 percent of Silent Generation).

Millennials are on the cusp of surpassing Baby Boomers as the nation’s largest living adult generation, according to population projections from the U.S. Census Bureau. As of July 1, 2016 (the latest date for which population estimates are available), Millennials, whom we define as ages 20 to 35 in 2016, numbered 71 million, and boomers (ages 52 to 70) numbered 74 million.

CalPERS just lost a lawsuit at the U.S. Supreme Court. That decision will cost Californians  · In a separate case, the Illinois Supreme Court ruled in July that a law requiring retirees to pay more for health insurance was unconstitutional. The decision centered on the constitution’s strong protections for retirement benefits, leaving many to question the fate of the state’s pension overhaul and possible future credit downgrades.