Term Life Insurance Articles
Metlife Survey Shows Optimism
2009-11-22
A poll of Americans conducted by insurance industry leader MetLife found some cause for optimism amidst the seemingly endless round of economic gloom and doom news. The survey found that members of Generation Y, those Americans ages 18 to 34, appear to have weathered the financial storm relatively well and remain optimistic about future economic conditions. According to analysts, this is cause for overall optimism, as the younger generation appears more attuned to personal financial planning and better prepared to steer the economy in future years.
The results were released November 10 for the Harris Interactive poll conducted on behalf of MetLife - the largest provider of term life insurance and life insurance coverage in the United States - showing two-thirds of GenYers were able to pay down debt, and nearly half continued making regular contributions to their 401(k) plans during the last year. Pollsters interviewed nearly 2,200 Americans nationwide in late September and found GenYers were much more optimistic they would recover financially quicker than the overall economy. Nearly half said they believed they would recover financially by 2011, although only 29 percent said they believed the economy would recover by that time.
According to the opinion poll, GenYers learned valuable lessons from the economic crisis they now were putting into practice, which caused optimism among financial analysts. Some 70 percent now said they were building "rainy day funds" of cash reserves, while 61 percent said they were reducing spending on non-essential items. The survey also found that 18 percent were consulting financial advisors. This portends good economic news in the lessons learned department for the younger generation. Some 68 percent told opinion takers their biggest financial regret was not building a cash cushion, along with 43 percent who said their biggest regret was amassing too much credit card debt.
MetLife offered some financial tips for those ages 18 to 34 to help them achieve financial security as they continued building a brighter financial future. They should continue building rainy day funds for unexpected expenses, setting aside money to cover three to six months, according to the insurance giant. They should also research protection products, such as life insurance - which is less expensive when purchased earlier in life - purchase renters insurance, create a budget that includes debt payments and create a plan to keep debt as low as possible. Disability income insurance was especially key, since a primary asset of youth is its ability for future earnings. Participating in company-matching 401(k) plans - and continuing them with you if you change jobs - as well as keeping fit and healthy, and consulting financial planners were important steps to take toward future financial well-being.
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A poll of Americans conducted by insurance industry leader MetLife found some cause for optimism amidst the seemingly endless round of economic gloom and doom news. The survey found that members of Generation Y, those Americans ages 18 to 34, appear to have weathered the financial storm relatively well and remain optimistic about future economic conditions. According to analysts, this is cause for overall optimism, as the younger generation appears more attuned to personal financial planning and better prepared to steer the economy in future years.
The results were released November 10 for the Harris Interactive poll conducted on behalf of MetLife - the largest provider of term life insurance and life insurance coverage in the United States - showing two-thirds of GenYers were able to pay down debt, and nearly half continued making regular contributions to their 401(k) plans during the last year. Pollsters interviewed nearly 2,200 Americans nationwide in late September and found GenYers were much more optimistic they would recover financially quicker than the overall economy. Nearly half said they believed they would recover financially by 2011, although only 29 percent said they believed the economy would recover by that time.
According to the opinion poll, GenYers learned valuable lessons from the economic crisis they now were putting into practice, which caused optimism among financial analysts. Some 70 percent now said they were building "rainy day funds" of cash reserves, while 61 percent said they were reducing spending on non-essential items. The survey also found that 18 percent were consulting financial advisors. This portends good economic news in the lessons learned department for the younger generation. Some 68 percent told opinion takers their biggest financial regret was not building a cash cushion, along with 43 percent who said their biggest regret was amassing too much credit card debt.
MetLife offered some financial tips for those ages 18 to 34 to help them achieve financial security as they continued building a brighter financial future. They should continue building rainy day funds for unexpected expenses, setting aside money to cover three to six months, according to the insurance giant. They should also research protection products, such as life insurance - which is less expensive when purchased earlier in life - purchase renters insurance, create a budget that includes debt payments and create a plan to keep debt as low as possible. Disability income insurance was especially key, since a primary asset of youth is its ability for future earnings. Participating in company-matching 401(k) plans - and continuing them with you if you change jobs - as well as keeping fit and healthy, and consulting financial planners were important steps to take toward future financial well-being.
