Nearly 9 in 10 consumers worldwide have little or no awareness of the retirement products offered by life insurance companies, new research reveals.
Accenture plc, New York, released this finding in a survey of more than 8,000 consumers in 15 countries. The study was conducted to better understand what people think about the retirement crisis and their intentions to make provisions for it.
The research reveals that 62% of consumers have little awareness of the retirement products offered by life insurers and 24% are not aware at all. Just 14% say they have a good awareness.
Among those who have little or no awareness, 45% attribute the reason for their ignorance to the fact that they have never received “simple information on retirement from any life insurer.”
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Smaller percentages say that no life insurer has approached them to discuss retirement options (20%) or cannot recall advertising by life insurers about retirement (18%).