Nearly two-thirds of Millennials say this year’s open enrollment is more important than last year’s, and two in three say they plan to elect new benefits, according to a MetLife survey. Top products of interest include life insurance (39 percent), financial planning tools (34 percent), and dental insurance (3 1 percent).
Millennial employees are more likely to say the pandemic has had a significant impact on their major life plans (65 percent vs. 54 percent of employees overall). Among the most frequently delayed plans were undergoing a medical procedure/treatment (39 percent), selling a home (34 percent), moving to another part of the country (31 percent), and getting a divorce (30 percent). For other Millennials, the pandemic brought a new wave of responsibilities—with one in five saying the pandemic led them to become a caretaker for a dependent family member.
After more than a year of putting off major life plans, Millennials are preparing for a new wave of decision-making. Eighty-one percent of Millennial employees expect a major life change in the next 12 months, including buying a new home (24 percent), getting a pet (22 percent), changing careers (19 percent), or having a child (15 percent).
Contact CoPower for Millennial-focused sales strategies.
Rodney Mattos
CoPower Regional Sales Manager
Email: rmattos@copower.com
Phone: 916.261.9280
Schedule an Appointment with Rodney
or
Jason Diffenauer
CoPower Sales Account Manager
Email: jdiffenauer@copower.com
Phone: 650.931.1731
Schedule a meeting with Jason