We would love to hear from you. Click on the ‘Contact Us’ link to the right and choose your favorite way to reach-out!


media/speaking contact

Jamie Johnson

business contact

Victoria Peterson

Contact Us


Close [x]

Industry News


  • Industry Articles (14,706)
  • Industry Conferences (2)
  • Industry Job Openings (8)
  • Negative Media (130)
  • Positive Media (73)
  • Sheryl's Articles (552)
  • Sheryl's Blogs (155)
  • Wink's Articles (211)
  • Wink's Blogs (183)
  • Wink's Press Releases (85)
  • Blog Archives

  • April 2020
  • March 2020
  • February 2020
  • January 2020
  • December 2019
  • November 2019
  • October 2019
  • September 2019
  • August 2019
  • July 2019
  • June 2019
  • May 2019
  • April 2019
  • March 2019
  • February 2019
  • January 2019
  • December 2018
  • November 2018
  • October 2018
  • September 2018
  • August 2018
  • July 2018
  • June 2018
  • May 2018
  • April 2018
  • March 2018
  • February 2018
  • January 2018
  • December 2017
  • November 2017
  • October 2017
  • September 2017
  • August 2017
  • July 2017
  • June 2017
  • May 2017
  • April 2017
  • March 2017
  • February 2017
  • January 2017
  • December 2016
  • November 2016
  • October 2016
  • September 2016
  • August 2016
  • July 2016
  • June 2016
  • May 2016
  • April 2016
  • March 2016
  • February 2016
  • January 2016
  • December 2015
  • November 2015
  • October 2015
  • September 2015
  • August 2015
  • July 2015
  • June 2015
  • May 2015
  • April 2015
  • March 2015
  • February 2015
  • January 2015
  • December 2014
  • November 2014
  • October 2014
  • September 2014
  • August 2014
  • July 2014
  • June 2014
  • May 2014
  • April 2014
  • March 2014
  • February 2014
  • January 2014
  • December 2013
  • November 2013
  • October 2013
  • September 2013
  • August 2013
  • July 2013
  • June 2013
  • May 2013
  • April 2013
  • March 2013
  • February 2013
  • January 2013
  • December 2012
  • November 2012
  • October 2012
  • September 2012
  • August 2012
  • July 2012
  • June 2012
  • May 2012
  • April 2012
  • March 2012
  • February 2012
  • January 2012
  • December 2011
  • November 2011
  • October 2011
  • September 2011
  • August 2011
  • July 2011
  • June 2011
  • May 2011
  • April 2011
  • March 2011
  • February 2011
  • January 2011
  • December 2010
  • November 2010
  • October 2010
  • September 2010
  • August 2010
  • July 2010
  • June 2010
  • May 2010
  • April 2010
  • March 2010
  • February 2010
  • January 2010
  • December 2009
  • November 2009
  • October 2009
  • August 2009
  • June 2009
  • May 2009
  • April 2009
  • March 2009
  • November 2008
  • May 2008
  • February 2008
  • Seven in Ten Americans Believe Life Insurance Will Protect Their Ability to Live A Long, Financially Secure Life, Yet Half Don’t Have Insurance or Are Unsure If They Do

    March 11, 2020 by AIG Life & Retirement

    NEW YORK–(BUSINESS WIRE)–Seven in ten Americans (70 percent) say life insurance will protect their ability to live a long, financially secure life, according to the AIG Life Insurance IQ Study. And yet roughly half of respondents (51 percent) do not have life insurance or are unsure if they do, leaving themselves and their families vulnerable to considerable financial risks.

    “Just as it’s important to understand how to build a budget, pay down debt and save for the future, individuals need to recognize life insurance and the protection it provides as critical components of a secure financial plan,” said Adam Winslow, Chief Executive Officer of Life Insurance at AIG Life & Retirement. “Yet, an alarming knowledge gap persists when it comes to understanding how life insurance can solve for financial challenges beyond leaving a legacy and taking care of loved ones after you’re gone.”

    Top Findings from AIG Life Insurance IQ Study

    The survey uncovered important knowledge gaps and misconceptions about life insurance:

    1. People do not understand how much their policy is worth: Even among those with life insurance, 28 percent don’t know the value of their own workplace policy, and 25 percent don’t know the value of their own individual policy. Similarly, spouses are left in the dark: 42 percent don’t know the value of their spouse’s workplace policy, and 25 percent don’t know the value of their spouse’s individual policy.

    2. How term life insurance works is not widely known: More than half (54 percent) indicated they did not know whether the death benefit for term life insurance is set at a fixed amount (for example, a $250,000 policy) and does not change. Nearly all term life insurance purchased in the United States is level term, where the size of the policy stays at a fixed level for the length of the policy.

    3. Life insurance is not thought of to address illness concerns: Facing longer life spans, Americans say their top fear is getting diagnosed with a chronic illness (40 percent) versus running out of money as they age (34 percent) or unexpectedly dying young (25 percent). With so much stress about illness, living benefits available in certain life insurance policies could help alleviate the anxiety, yet:

    • 88 percent of respondents don’t understand the cost implications of a private nursing home room.
    • Three-quarters (75 percent) do not know that permanent life insurance can be used to cover long-term care costs. This can be achieved several ways, including accessing the policy’s cash value, taking out a policy loan or through a rider, such as a chronic illness rider, that allows a policy owner to access a portion of their death benefit while still living.1
    • Over eight in ten (83 percent) respondents do not know that a chronic illness rider can be used to help cover costs associated with severe cognitive or physical impairments.

    4. The full benefits of permanent life insurance are not recognized: While the primary purpose of life insurance is the death benefit, most Americans (92 percent) don’t realize the full range of benefits permanent life insurance can offer during their lifetime. Top misunderstandings include:

    • Americans fail to recognize key features of permanent life insurance, with few spotting benefits such as withdrawing from the cash value (27 percent), saving for the future (25 percent), taking out a loan (21 percent) and building tax-deferred supplemental retirement income (17 percent).
    • Nearly two-thirds (64 percent) are unaware that the cash value of some policies can grow tax-free while protecting against loss. These life insurance policies have what’s called a cash value, which are designed to grow at a guaranteed rate of return.

    The study also revealed interesting and changing perspectives on how people think about life insurance:

    1. People have broadened their view of who needs life insurance: Some misconceptions that used to deter Americans from recognizing the need for life insurance have faded with the times. Now, people say that life insurance isn’t only for breadwinners, parents of youngsters or married couples.

    • 90 percent believe that stay-at-home parents can benefit from life insurance, and 80 percent believe that the primary earner shouldn’t be the only household member with life insurance.
    • 88 percent believe that you still may need life insurance after your kids turn 18.
    • 78 percent say singles may also benefit from life insurance.

    2. Couples say they’d feel abandoned if their partner died uninsured: Looking out for loved ones financially can be felt as an expression of commitment and love. Perhaps this is why more than half of Americans (52 percent) say they would feel abandoned if their partner died without life insurance.

    3. Partners share a similar approach to life insurance: How one half of a couple handles their life insurance can be a good predictor of what their partner does: 83 percent of respondents with life insurance say their partner is covered as well, while 70 percent of respondents without life insurance say their partner also doesn’t have a policy.

    4. Many want to leave life insurance to man’s best friend: While many would use life insurance to protect their children (49 percent) or spouse (47 percent), pets (18 percent) surprisingly took third place on America’s priority list, with slightly more looking to leave a legacy to their pets than to their grandchildren, parents, siblings or friends. This is particularly pronounced among younger generations with a third of Gen Z (34 percent) saying they’d want to provide for their pet.

    5. That life insurance can help solve financial problems beyond leaving a legacy: Only one in five (21 percent) would be most motivated to buy life insurance to help build a supplemental retirement income stream for themselves or to cover costs related to cognitive or physical decline (23 percent), whereas 45 percent view life insurance as a tool to leave money to their loved ones.

    Working with an Advisor Can Boost Life Insurance Know-How

    The study also found that Americans who work with a financial advisor are more likely to have a life insurance policy (72 percent), compared to those without an advisor (46 percent). Additionally, those with an advisor demonstrated a better understanding of the details around life insurance:

    • Access to Cash Value: 73 percent of those with a financial advisor vs. just 56 percent of those without one understand you can take cash withdrawals from some life insurance during your lifetime.
    • Leave a Legacy: 72 percent of those with a financial advisor vs. 57 percent of their counterparts know you can leave life insurance proceeds to a charity.
    • Stay in the Green: 56 percent of those with a financial advisor vs. 34 percent of those without one know that the cash value of some life insurance policies can grow tax free while protecting against loss.

    Financial advisors still have work to do in explaining several misunderstood concepts, such as the fact that term life insurance does not allow you to build a cash value—a fact that 61 percent of those with an advisor still did not know.

    “Life insurance is a valued asset that can help safeguard against difficult scenarios like dying too young, outliving your savings or getting sick along the way—the ones no one wants to think about, but we need to prepare for,” added Winslow. “Working with an advisor helps boost Americans’ financial confidence and readiness to take on the future.”

    For educational materials to close the life insurance knowledge gap, visit www.aig.com/LifeIQ.

    AIG Life Insurance IQ Study Methodology

    This AIG Life Insurance IQ Study was conducted by Morning Consult from December 2-5, 2019, among a national sample of 2,201 adults. The interviews were conducted online, and the data were weighted to approximate a target sample of adults based on age, race/ethnicity, gender, educational attainment and region. Results from the full survey have a margin of error of plus or minus 2 percentage points.

    About AIG Life & Retirement

    AIG Life & Retirement, a division of AIG (NYSE: AIG), brings together a broad portfolio of protection, retirement savings, investment and lifetime income solutions to help people achieve financial and retirement security. The business consists of four operating segments – Individual Retirement, AIG Retirement Services, Life Insurance and Institutional Markets – and holds longstanding, leading market positions in many of the markets it serves.

    AIG Life & Retirement includes AIG member insurance companies American General Life Insurance Company (Houston, TX), The United States Life Insurance Company in the City of New York, and The Variable Annuity Life Insurance Company (VALIC), Houston, TX as well as their affiliates. Securities products are distributed by AIG Capital Services, Inc., member FINRA. Additional information about AIG Life & Retirement can be found at www.linkedin.com/showcase/aig-life-&-retirement.

    About AIG

    American International Group, Inc. (AIG) is a leading global insurance organization. AIG member companies provide a wide range of property casualty insurance, life insurance, retirement solutions, and other financial services to customers in more than 80 countries and jurisdictions. These diverse offerings include products and services that help businesses and individuals protect their assets, manage risks and provide for retirement security. AIG common stock is listed on the New York Stock Exchange.

    Additional information about AIG can be found at www.aig.com | YouTube: www.youtube.com/aig | Twitter: @AIGinsurance www.twitter.com/AIGinsurance | LinkedIn: www.linkedin.com/company/aig. These references with additional information about AIG have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release.

    AIG is the marketing name for the worldwide property-casualty, life and retirement, and general insurance operations of American International Group, Inc. For additional information, please visit our website at www.aig.com. All products and services are written or provided by subsidiaries or affiliates of American International Group, Inc. Products or services may not be available in all countries and jurisdictions, and coverage is subject to underwriting requirements and actual policy language. Non-insurance products and services may be provided by independent third parties. Certain property-casualty coverages may be provided by a surplus lines insurer. Surplus lines insurers do not generally participate in state guaranty funds, and insureds are therefore not protected by such funds.


    1 In order to access accelerated benefits from a chronic illness rider, the insured must first be certified as chronically ill by a licensed health care practitioner.



    Sabra Purtill (Investors): 212-770-7074; sabra.purtill@aig.com
    Matt Burkhard (Media): 212-458-4253; matthew.burkhard@aig.com

    Originally Posted at Business Wire on March 10, 2020 by AIG Life & Retirement.

    Categories: Industry Articles