Here’s What People Are Worrying About (or not) When It Comes to Finances

Each year Life Happens and LIMRA join forces on the Insurance Barometer Study to get the latest and greatest information about what consumers are thinking when it comes to the financial concerns that are bothering them the most as well as what types of insurance they do or don’t have—and why! Take a look at some of the results and then just click to tweet them out!

[bctt tweet=”The Financial Concern Index (FCI) dropped 9 points from 2017, suggesting consumers feel better about their economic situation and have a more positive financial outlook. #2018Barometer” username=”lifehappens”]

[bctt tweet=”42% of consumers say they are very or extremely concerned about saving for a comfortable retirement; 20% say it’s their top financial concern. #2018Barometer” username=”lifehappens”]

[bctt tweet=”Health coverage concerns consistently rank among consumers’ top financial worries. #2018Barometer” username=”lifehappens”]

[bctt tweet=”Living expenses are the top financial concern for 13% of consumers. #2018Barometer” username=”lifehappens”]

[bctt tweet=”Almost everyone (90%) believes a family’s primary wage earner needs life insurance. #2018Barometer” username=”lifehappens”]

[bctt tweet=”35% of households would feel the financial impact within 1 month, if a primary wage earner died. #2018Barometer” username=”lifehappens”]

[bctt tweet=”1 in 5 people who have life insurance say they don’t have enough. #2018Barometer” username=”lifehappens”]

[bctt tweet=”2 in 5 Millennials say they wish their spouse or partner would buy more life insurance. #2018Barometer” username=”lifehappens”]

[bctt tweet=”61% of people don’t buy life insurance or more of it because they say they have other financial priorities. #2018Barometer” username=”lifehappens”]

[bctt tweet=”44% of Millennials overestimate the cost of life insurance by five times the actual amount. #2018Barometer” username=”lifehappens”]

[bctt tweet=”Half of all consumers say they’re more likely to purchase life insurance if it’s priced without a physical exam. #2018Barometer” username=”lifehappens”]

[bctt tweet=”“Fast and easy” is the benefit that most consumers (72%) like about simplified life insurance underwriting. #2018Barometer” username=”lifehappens”]

[bctt tweet=”54% of Millennials are likely to ask social-media connections for recommendations on a financial professional. #2018Barometer” username=”lifehappens”]

[bctt tweet=”67% of consumers say they wouldn’t do business with an advisor with an out-of-date website. #2018Barometer” username=”lifehappens”]

[bctt tweet=”Half of consumers want a primary financial advisor: 37% have one, 14% are looking for one. #2018Barometer” username=”lifehappens”]

If you are looking for the complete study, you can access it here. If you have any questions, reach out to support@lifehappenspro.org.

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