Even with rising concerns surrounding financial security among retirees and pre-retirees, consumers are not making insurers’ jobs any easier, as buying behaviors remain stagnant.
A new survey titled “The 2011 Risks and Process of Retirement Survey” and sponsored by the Society of Actuaries (SOA) found that one-third of pre-retirees and 57 percent of retirees have a plan for financing their retirement. While greater action is not being taken, the retirement risks contributing most to increased concerns are protecting savings and investments against inflation, paying for healthcare and affording long-term care. Close behind were doubts about maintaining a reasonable standard of living, volatile interest rates affecting income and depleting savings.
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