Trust in retirement down 20 percent

Posted on: Monday, October 24, 2011

A new survey may come as good news for agents who are selling annuities, as a considerable number of Americans don't believe they will have enough money to retire comfortably.

According to Sun Life Financial and its Unretirement Index, Americans' trust in their future retirement has reached a four-year low, as retirement confidence dropped nearly 20 percent last month when compared to the same 30-day period in 2010.

"This represents the most significant drop in retirement confidence we've seen in the four years we've compiled the Sun Life Unretirement Index," said Wes Thompson, president of Sun Life. "Although the recession officially ended in 2009, average Americans feel that the downturn has not ended for them, which is substantially eroding their trust in their retirement future."

Other findings from the study found that people are so pessimistic about what lies ahead, approximately one in five respondents said they will likely never retire.

Annuities are another source of income retirees can rely on to help finance their costs of living. Reminding insurance leads of this fact will lead to an increase in sales.

Posted In: Insurance News, Life Insurance

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