Many clients are looking for a way to bridge the gap between their retirement savings and their retirement goals. This is particularly true for Americans in the middle market.
The 2022 Allianz Middle Market Study* found that Americans in the middle market are concerned about potential risks to their retirement. For example, 52% worry about not having enough saved to have the life they envision in retirement. A fixed index universal life (FIUL) insurance policy could help as part of an overall financial strategy.
The study focused on the “middle market” – people age 25 to 45 who are contributing to their 401(k) plan to the full company match and have additional funds that could be put into another financial vehicle. Americans in the middle market want multiple sources of retirement income (88%) and access to funds in case of an emergency (81%). An FIUL policy can address those concerns.
While Americans in the middle market could benefit from a life insurance policy, financial professionals may not be recommending this solution to those clients. Yet this could increase life insurance business, foster new relationships, and help with prospective clients.