ou Only Live Once, more commonly known as YOLO, is a funny concept. It makes people do extremely adventurous and sometimes ridiculously reckless things. While living in the now is perfectly okay, shouldn’t you be more responsible when it comes to your future if you live only once?
Andy Rooney, an American author, and journalist had said ‘death is a distant rumour to the young.’ While some millennials attest to the illusion that there is ample time to prepare for the eventuality of death, many prefer other financial products over insurance because hasty returns are a priority and want for them.
I recently struck up a conversation with a twenty-something man and he almost instinctively told me that he would prefer to buy any other financial instrument but a life insurance policy for ‘productive’ use of his money. In his opinion, he can use the money he would otherwise use for premiums and build a fund robust enough to provide him the security that an insurance policy would.
