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Survey: Consumers value income over investment plans

Posted On Wed, October 26, 2011

A recent survey from Allianz Life Insurance Company of North America found that those Americans who are not yet retired are more interested in tangible, guaranteed income while retired, instead of a 401(k) retirement plan.

Nearly nine in 10 consumers noted that the best choice was a guaranteed stream of funding while retired, while close to 70 percent noted that they want some sort of retirement plan, such as a 401(k). Nearly half of those surveyed said that a guaranteed income source would be the best choice, while approximately one-quarter noted a retirement plan would be the smart choice for them. Another one-fifth of those polled believed that their best choice would be to have a wide range of investment plans.

"Our survey results are confirming that Americans want more guarantees in retirement but simply don't know what to do to create financial certainty," said Gary Bhojwani, president and chief executive officer of Allianz Life. "More education is clearly needed about annuities and how they can help protect a portion of savings and provide steady, predictable income throughout a person's retirement."

While consumers have many options to plan and save for retirement, one item that may be necessary to not overlook is a life insurance plan. There are many different types of plans, but finding the best may require comparing life insurance quotes.

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