Life insurance plays a pivotal role in every generation. No matter what stage of life you are in, life insurance should be a consideration in overall lifetime planning. Simply put, life insurance can bring confidence by protecting family members in the event of a death by helping replace income, covering existing debt and even allowing for someone to be philanthropic to their favorite charity.

Who, Why, & When?
Gen Z (1997-2012)
As this generation is coming of age, whether they’ve graduated college and/or are forming their own paths both personally and professionally, life insurance is probably not at the top of their to do list. However, surveys have shown that this generation is realizing that purchasing life insurance when they are young and healthy is more cost effective than in later years. Also, by owning a life insurance policy, no matter what type of debt they are in, be it college loans, car payments or credit card bills, their life insurance policy can alleviate the transfer of those financial burdens to their loved ones in the event of a death.
Millennials (1981-1996)
While some Millennials are getting more comfortable in their careers and possibly getting married, starting a family, or looking to start saving towards retirement, there are others who may not be in the same position. There are some that may not have a stable income, have debt, or are stay at home parents providing for their children and loved ones. Regardless of where you are at in this stage, life insurance policies can be designed for every lifestyle, and can provide the confidence that no matter what the future will be, your loved ones will be taken care of financially.
Gen X (1965-1980)
Many Gen-Xers have been in the work force for the past few decades, and are now settled into their careers; some have children off to college and many may start to look ahead towards retirement. Gen-Xers can have a mix of financial obligations that life insurance can support, therefore it should be a priority on their to do list. They may have concerns about expenses that could occur from medical and funeral cost, without taking into consideration the daily living expenses that would also need to be accounted for. Life insurance can seem like an additional expense, but in the event of a death, it can alleviate the financial burden left to their spouse or loved ones.
Baby Boomers (1946-1964)
If life insurance was important for all of the preceding generations, it should be a number one priority of Baby Boomers. A critical aspect of retirement is financial security and with this generation living longer, their retirement savings may have to last beyond what their initial expectations were. While looking forward to retirement or already enjoying it, Baby Boomers may be thinking about health issues, final expenses, leaving a legacy or making sure their savings will last long enough to enjoy the lifestyle in their retirement they had always planned for. Life insurance can be designed to supplement income, while also contributing to the financial inheritance you would like to leave to your loved ones. Life insurance can ensure that whatever their objectives during retirement, they can face the future prepared.
No matter what stage of life you are in, life insurance should be a part of it.
DISCLOSURE
This material is not a recommendation as defined in Regulation Best Interest adopted by the Securities and Exchange Commission. It is provided to you after you have received Form CRS, Regulation Best Interest disclosure and other materials.
Oppenheimer & Co. Inc. does not provide legal or tax advice. SIPC 6988709.1