What You Need to Know
- Americans may have more cash than usual.
- More survey takers say a recession is coming.
- About 82% worry about inflation.
An Allianz Life survey program has uncovered something strange: U.S. adults’ interest in products that protect savings from loss might be shrinking.
Just 60% of the 1,004 people the company polled in June said they think it’s important to have some retirement savings protected from loss.
That’s down from 64% in May 2021, 64% in August 2020 and 72% in May 2019. The level of interest in savings protection is up from 57% in April 2018.
At the same time, however, consumers are showing a strong interest in safe money: 65% of the participants in the new survey said they are keeping more money than they should out of investment markets altogether. That’s up from 57% in 2021, and up from 54% in 2020.
What It Means
Clients may have plenty of cash they can invest, if you can calm them down enough to persuade them to trust products with asset or income guarantees more than they trust the protective value of their coffee cans, shoeboxes or mattresses.
Allianz Life Insurance Co. of North America is a Minneapolis-based affiliate of Allianz of Germany.
It’s one of the biggest life insurance and annuity issuers in the United States, and it’s especially active in the markets for nonvariable indexed annuities, registered index-linked annuities and nonvariable indexed universal life insurance.