Ignorance is not bliss

March 27, 2013 by Sam J. Friedman, Val Srinivas

Many consumers don’t know enough about the most common products marketed to help address their retirement savings and income needs, accentuating the challenge facing life insurance and annuities providers struggling to connect with prospects, a survey by Deloitte’s Center for Financial Services confirmed.

For example, nearly 40 percent surveyed by Deloitte don’t know anything about annuities or understand how they work, with the percentage even higher among younger respondents.

In addition, 25 percent either don’t know about non-term life insurance products — or if they are aware, don’t know what these products can do to bolster retirement savings and income. Click here to read…

Originally Posted at LifeHealthPro on March 26, 2013 by Sam J. Friedman, Val Srinivas.