According to this article by Chantal Marr there is an increasing need for millennials to have critical illness insurance. ‘A study done by the Neurology journal found that the rate of strokes among people in the 20 to 54 age group has increased from 13% to 19%.Furthermore, certain types of cancer such as leukemias and lymphomas are more common among young adults than older people.’
Although the absolute rate of strokes remains low for younger people the trend is important. Why are cancers strokes, and such like more prevalent in younger people these days? One issue is earlier diagnosis – testicular cancer, for example, is typically diagnosed years earlier than it used to be. The other is increased survival. A stroke used to be fatal more frequently. This is all part of the shift from insurance of your life to insuring your lifestyle. The shift to living benefits is gathering pace and driving more lapse and replacement activity.