Consumers tend to be more concerned about covering expenses while they are alive than they are about leaving money for beneficiaries.
Researchers at AXA Equitable Life Insurance Company, New York, a unit of AXA S.A., Paris, have published that finding in a summary of results from a Web-based survey of 1,116 U.S. consumers that was conducted in February. The consumers were ages 25 and older, and they had annual household incomes of at least $50,000.
About 59% of the participants identified “death benefits” as a top financial concern, but 69% identified having “guaranteed income for life” as a top concern, and 65% listed “ability to pay everyday expenses if you lose job” as a top concern.
“Protection from outliving your retirement savings” tied with “death benefit” for third place.