Which demographic is most likely to feel they do not need life assurance, according to a survey?

Millennials are often perceived as a demographic that prioritizes immediate experiences and financial freedom over long-term financial products like life assurance. Several factors contribute to this view. Many in this age group may be struggling with student debt, housing costs, and the financial realities of the gig economy, leading them to focus on more pressing financial needs rather than life assurance, which can seem less relevant in their current stage of life.

Additionally, Millennials may hold misconceptions about life assurance, viewing it as an unnecessary expense, particularly if they do not have significant dependents. This perspective may lead them to believe that they can postpone such purchases until later in life when their financial situation is more stable or when they have more significant responsibilities, such as children or a mortgage. Hence, they are most likely to feel they do not need life assurance compared to older generations who may have different priorities, concerns, and financial responsibilities.