Image - 28 June 2018

Millennials Insurance Gap - Factors contributing to the need for life insurance

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By: Discovery Life
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Subjects

Finance

Press contacts

Felicity Hudson

Press contact Head of Reputation Management Discovery Group media_relations_team@discovery.co.za 0115294514

Nthabiseng Chapeshamano

Press contact Senior Reputation Manager Healthcare & Sustainability nthabisengc@discovery.co.za

Munene Khoza

Press contact Senior Reputation Manager Vitality & Wellness munenek@discovery.co.za

Zeenat Moorad

Press contact Senior Reputation Manager Banking & investments zeenatm2@discovery.co.za

Shanti Aboobaker

Press contact Reputation Manager Long and short term insurance shantia@discovery.co.za

Gugu Yika

Press contact Reputation Management Consultant Vitality & Sponsorships guguy@discovery.co.za 0115298083

Millennials face a demonstrable insurance gap of R15 trillion

South Africa’s young adults could bridge the growing life and disability insurance gap by diverting a fraction of their monthly lifestyle expenditure to financial services products. The largest insurance gap is currently presented by millennials between the age of 18 and 30 coupled by high levels of indebtedness and low savings.