LIMRA: Most Gen X, Y Americans are financially vulnerable
June 26, 2014 by LIMRA
A new LIMRA study found that 6 out of 10 Generation X and Y Americans say losing their income for 6 months due to accident or illness would have a significant or drastic impact on their families’ financial well-being.
“Our study revealed that younger generations were more likely to feel the financial impact of income loss more severely than Baby Boomers,” noted Nilufer Ahmed, senior research director, LIMRA Insurance Research. “The reaction was just as pronounced in the event of death of the primary wage-earner, where about 6 in 10 Gen X and Y consumers thought their households would be negatively affected compared with just over one third of Boomers.”
Originally Posted at LIfeHealthPro on June 24, 2014 by LIMRA.
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