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7 Things COVID-19 Has Taught Your Youngest Annuity Prospects

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One sign of the fundamental stability of U.S. life insurers: They’re still out there conducting consumer surveys, and publishing the results.

Nationwide Financial is back with a report based on a recent survey of 2,042 U.S. adults ages 18 and older.

(Related: How to Attract, Retain and Satisfy Millennial and Gen X Clients)

The survey team looked at how the COVID-19 pandemic, and the pandemic-related financial turmoil, have affected consumers’ ideas.

One of Nationwide’s goals is to connect consumers who read about the survey results with financial specialists.

Nationwide also gathered data that might be of interest to the financial specialists. Nationwide found, for example, that the idea that the turmoil is causing all consumers to stuff their money under the mattress is incorrect.

About 50 of the survey participants with more than $100,000 in investable assets said they were making no changes in their retirement savings plan investment allocations, and 15% said they were making their allocations more aggressive.

Nationwide can break out the survey results in several different ways. The company provided a version for ThinkAdvisor that breaks out the results by age group.

The company found, for example, that 18% of the survey participants ages 18 to 34 said they will now be making their retirement savings plan investment allocations more aggressive. Just 10% of all survey participants said they would be getting more aggressive.

For a look at more findings about young adults’ views, including their views about annuities, see the slideshow above. (Wiggle your pointer over the first slide to make the control arrows show up.)

— Read Families Face ‘Boomerang’ Kid Planning Challenge: Nationwideon ThinkAdvisor.

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