half of millennials have life insurance

Less than half of millennials have life insurance, according to a survey conducted by insurance-comparison website Insuranks. Of 1,000 respondents born between 1981 and 1996, only 47% said they had a policy.

That's not to say Generation Y isn't interested in life insurance: In fact, 48% of those without coverage said they wanted it. The chief obstacle they cited was cost, with 66% saying premiums were too expensive. Nearly a third (29%) said they were overwhelmed by the complexity involved in choosing a policy.

Only 36% said they didn't have life insurance because they didn't have a family to support