Consumer Interest in Asset Protection May Be Falling

Allianz Life found that the percentage of survey takers interested in protected products is shrinking.

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.

The Survey

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.

The survey takers were U.S. adults ages 18 and older.

More Results

Allianz Life found a high level of concern about the arrival of a recession.

The percentage who said they are expecting a major recession right around the corner has increased to 66% this year, from 48% a year ago.

About 82% of the survey takers said they are worried about inflation hurting their purchasing power.

The Mystery

One question about the results might be about why consumers are less interested in protected retirement savings products.

Some possibilities:

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