Few say they’ll realize their retirement ideal

Posted on: Friday, December 14, 2012

The results of a new poll suggest that insurance customers may want to take out more life insurance than they initially intended.

According to a recent survey performed by professional development organization LIMRA, a small percentage of respondents believe they will wind up living the retirement of their dreams. Among the non-retired 55-to-70-year-olds surveyed, just 48 percent said they fully expect that they will be prepared enough financially to live out their retirement years just as they had always imagined.

Matthew Drinkwater, managing director of retirement research at LIMRA, indicated that these people may for the first time by realizing that they didn't prepare quite as much as they should have when they were younger.

"Pre-retirees are feeling insecure about their retirement future, in part because they have not yet taken the steps to plan for retirement," said Drinkwater.

While retirement may be less than ideal for people who haven't taken any financial considerations into account, it's important for insurance agents to remind their clients that hope is not lost. Reviewing what their income and retirement expenses will likely be and recommending certain life insurance packages can enable these individuals to live comfortably post-career.

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