Generation X also called as millennials (born between 1981-1996) are often confused about how to spend their excess Income. They are either busy partying, traveling or investing in a start-up with their hard earned money. With huge risk appetite, they often land up in some financial issues which they later repent. One of the basic investment that they often neglect is buying a good term plan. At times they may not be aware of the fact that if they invest at this age they may get the lowest cost of the premium. As compared to the investment amount, the risk covered is exponential. Investment plans like term cover the entire risk of the life of policyholder. In the case of the death of the insured, his beneficiary gets the entire claim. In most of the cases, the nominee of the policyholder is their spouse or close family member. Benefits of policyholder survival can also be availed in some specific plans. Financial Risks of Millennials Lack of Financial Planning Millennials are