Boomers’ life insurance adequacy pre & post the 2008 financial crisis

Janine K. Scott, John R. Gilliam
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引用次数: 3

Abstract

The baby boomers represent a large percentage of the U.S. population and their preparation for retirement, or lack thereof, can affect the economy at large. In light of the 2008 financial crisis, boomer households may be delaying retirement, choosing to work longer. Using the 2004 and 2010 Survey of Consumer Finance, logistic regression analyses are used to examine life insurance adequacy among boomers before and after the financial crisis of 2008. We find a significant difference in 2010 between the baby boomers and the senior generation in life insurance adequacy. Variables related to net worth, such as income, marital status, and self-insurability, were significant predictors of life insurance adequacy. Given greater life insurance adequacy among those with higher income, increasing group term insurance may help mid to low income households. Further implications to practitioners, agents, and educators are discussed.
婴儿潮一代在2008年金融危机前后的人寿保险充足率
婴儿潮一代在美国人口中占很大比例,他们对退休的准备或缺乏退休准备可能会影响整个经济。鉴于2008年的金融危机,婴儿潮一代的家庭可能会推迟退休,选择工作更长时间。利用2004年和2010年的消费者金融调查,采用logistic回归分析来检验2008年金融危机前后婴儿潮一代的人寿保险充分性。我们发现,2010年婴儿潮一代和老年一代在人寿保险充分性方面存在显著差异。与净值相关的变量,如收入、婚姻状况和自我保险能力,是人寿保险充分性的重要预测因子。考虑到高收入人群的人寿保险充足率更高,增加团体定期保险可能对中低收入家庭有所帮助。对从业者、代理人和教育者的进一步影响进行了讨论。
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