Gen Xers, boomers value security provided by life insurance
September 10, 2015 by Dan Cook
Close on the heels of a Lincoln Financial survey about the value of life insurance comes another strong vote in favor of the coverage. John Hancock tells us that, when it polled U.S. adults about attitudes toward life insurance, they received a resounding “like!” in favor of it.
The John Hancock survey, based on responses from more than 2,000 adults, showed an even greater percentage claiming they couldn’t conceived of living without it. While the Lincoln survey found 74 percent in favor of coverage, this one reported that 86 percent of Gen Xers in the study, and 81 percent of Baby Boomers, think folks their age should own life insurance.
Asked about the aspects of life that they especially value, they listed “making sure you’re financially secure” (47 percent), “being healthy” (54 percent), “being happy with where you are in life” (55 percent), and “having close relationships with family and friends” (55 percent) as the toppermost of the poppermost.
The survey also asked respondents about any changes in their daily lives they’ve made of late as they peer down the ever-shortening road to whatever lies ahead for us all. “They view both health and wealth as critical aspects to their overall wellbeing, and believe they could make improvements in each area,” John Hancock said. Here’s a list of reported changes for the better they reported:
- 58 percent spent more quality time with friends and family
- 58 percent ate healthier
- 47 percent reduced monthly bills
- 44 percent paid off debt
- 30 percent made a budget
Despite these lifestyle decisions, many folks view the future with trepidation.
“Only slightly more than half (53 percent) say they feel prepared for their financial futures, with only about one in 10 (11 percent) saying they feel very prepared. Nearly all (94 percent) say they could be living healthier lives,” the survey said.
Originally posted on BenefitsPro.com
