How recent graduates are navigating financial security
Recent graduates are optimistic about their financial futures, despite financial pressures
Securian Canada’s latest research report, Today’s Graduates: Securian Canada Insights, explores how recent graduates in Canada are navigating career-building, financial pressures and ever-changing realities.
The findings reveal a generation that remains positive about its future while adapting to a more complex transition to financial security, with implications for how they approach insurance decisions and protection.
Today’s Graduates: Securian Canada Insights is the third report in an ongoing research series focused on insights into traditionally underserved markets in Canada.
Key financial and insurance insights from recent graduates
Optimistic about their financial future
Nearly four-in-five (78%) recent graduates are optimistic about their financial future, including 55% who feel uncertain but hopeful. Most recognize the gap between their current financial realities and long-term goals.
Employed, but financially vulnerable
Four-in-five (81%) recent graduates are employed, yet 45% could cover less than three months of basic expenses if their income stopped today.
Managing significant debt
More than three-quarters (78%) carry some form of debt, including credit card balances (42%) and student loans (33%).
Delaying major milestones
More than half (52%) are delaying homeownership due to their financial situation, while 29% are delaying marriage or a long-term relationship and 28% are delaying having a child.
Gaps in insurance ownership
While recent graduates match the general population aged 35+ on health and dental coverage (68% vs. 67%), they lag on life insurance (40% vs. 58%) and critical illness insurance (16% vs 19%).
Unclear about financial protection
Only one-quarter (25%) recent graduates in Canada associate financial protection with insurance, while nearly one-in-five (18%) do not know what financial protection means or what they should associate it with.
What are the biggest financial challenges for recent graduates?
Seventy-eight per cent of recent graduates in Canada carry some form of debt, including credit card balances (42%) and student loans (33%), while 45% could cover less than three months of basic expenses if their income stopped today. Four-in-ten (40%) describe themselves as struggling or just managing financially, demonstrating that career progress does not always translate into financial security.
These pressures are reshaping major life decisions: 52% are delaying homeownership, 29% are delaying marriage or a long-term relationship and 28% are delaying having a child because of their financial situation. At the same time, insurance gaps leave many exposed to additional financial risk.
How recent graduates research and make insurance decisions
Recent graduates are highly independent when making financial decisions and increasingly embrace digital channels, but they still value trusted guidance and reassurance.
Nearly two-thirds (61%) of recent graduates identify as the sole financial decision-maker. Most prefer digital channels to learn about insurance options (59%) and complete a purchase (57%).
How recent graduates use AI for insurance research
More than one-third (38%) of recent graduates are open to using AI for insurance-related research and nearly one-quarter (23%) trust AI for insurance recommendations.
Building financial security looks different for today’s graduates
Recent graduates are entering the next stage of their lives with ambition and optimism. But career progress does not always equal financial security.
Affordability pressures, debt and limited financial cushions are prompting many graduates to rethink the traditional timeline for milestones such as homeownership, relationships and starting a family.
These changing realities can also affect when recent graduates think about insurance.
At Securian Canada, we believe there is an opportunity to meet recent graduates where they are with simpler, more accessible and relevant insurance solutions that reflect their immediate needs and help them protect their financial futures at every life stage.
Contact us for more insights on today’s graduates
We continuously look for new ways to support our partners, clients and communities with research and insights into the evolving needs of Canadians. Contact us for more insights on today’s graduates and to learn more about our innovative digital-first solutions.