U.S. consumers say they are more satisfied with the recent performance of their permanent life insurance than with the performance of many of their other financial products.
Northwestern Mutual Life Insurance Company, Milwaukee, has reported that finding in a summary of results from a survey it commissioned of 1,057 U.S. adults ages 25 and older. The survey was conducted between March 23 and April 26.
Only 34% of the participants said they are “satisfied” or “very satisfied” with how their investments have held up over time, and only 37% said they are satisfied or very satisfied with the performance of their 401(k) plans. But 54% said they are satisfied or very satisfied with the performance of their permanent life insurance.
The insurer also found that 75% of the survey participants said they prefer products with a long-term outlook, and 64% said they prefer lower-return products that are lower risk over products that might have higher returns but are also higher risk.