Lincoln Financial Research Reveals 78% of Families Lack Life Insurance Discussions
Event summary
- 78% of families surveyed have not had an in-depth conversation about life insurance.
- 60% of adult children believe their parents have life insurance, but only 44% of parents confirm they do.
- Communication gaps extend to retirement funding, healthcare costs, and legacy planning.
- Lincoln Financial encourages early, structured family financial discussions to bridge the gap.
The big picture
Lincoln Financial’s research highlights a critical disconnect in family financial planning, particularly around life insurance. This gap underscores broader industry challenges in ensuring long-term financial security across generations. With $366 billion in end-of-period account balances, Lincoln Financial is positioning itself as a leader in advocating for proactive financial conversations, potentially influencing regulatory and market expectations around family financial preparedness.
What we're watching
- Behavioral Shifts
- Whether Lincoln Financial’s push for early conversations will shift family financial planning behaviors.
- Market Positioning
- How Lincoln Financial leverages this research to differentiate itself in the life insurance market.
- Regulatory Influence
- The pace at which industry-wide standards for financial preparedness discussions may emerge.
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