Millennials have been stumping market researchers for the past decade. They want a purchasing process that is convenient, yet meaningful. They also look for products that are cutting-edge, which can be a bit difficult for an industry that’s been around since the Age of Enlightenment. Their steep student loan debt motivates them to only spend money on products they perceive as valuable (keep in mind, most of them perceive Starbucks and Apple products as valuable).

Despite all this, Millennials do care about saving for retirement. A recent study shows that about 82% of Millennials are contributing to retirement funds; more than their Gen X and Baby Boomer counterparts. But, there’s that pesky market crash that happened in their childhood that scared them away from risky stocks. However, we think we have the key to Millennial retirement planning.

Three words: Indexed Universal Life.

With a cap and floor protecting their investment, Millennials could accrue the necessary retirement funds without the fear of losing their cash if the market takes a sudden nosedive. It provides them with non-taxable income, which they can put to use for retirement and medical costs. And talk about value! What is more valuable than securing funds for your future and the future of your loved ones in the chance you pass away unexpectedly?

Brokers Alliance is one of the country’s leading independently- owned distributors of life insurance and annuities.  You can visit their website at www.brokersalliance.com.

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