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Survey on economy shows loss of faith in the market

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Results from a survey taken Oct. 7 on the state of the economy and financial markets were released today.
The Association for Insured Retirement Solutions surveyed more than 300 insurance professionals via instant electronic polling during its annual meeting in Philadelphia.

Of those polled, 77 percent of the respondents reported that they planning to continue with their long-term plans, rather than making significant near-term adjustments. Responses were mixed on the opinions of how the financial crisis will impact consumer confidence over the next year.

“A central objective of NAVA’s annual meeting this year was to determine how to address deteriorating consumer confidence,” said Cathy Weatherford, president and CEO of NAVA. “Rather than succumbing to fear and uncertainty, the majority said they plan on maintain their long-term retirement planning strategies rather than reduce their market exposure, indicating the confidence that the markets will eventually rebound.”

NAVA is a nonprofit trade association that provides educational forums, research and conferences aimed at furthering the development and understanding of fixed and variable annuities; income annuities and variable life insurance.

During the annual NAVA meetings, insurance distributors and financial advisor organizations address industry issues and ways to better serve the public. The company hosts an educational website for consumers at


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