Market Overview

SBLI Financial Security Survey Points to Planning-Action Gap


Findings Look at Families' Financial Readiness Mindset

SBLI, creator of a unique, breakthrough Accelerated
Underwriting Process
, shares the survey results of its SBLI
Self-Awareness Quiz
, a self-test designed to help parents check
their financial self-awareness.

The online quiz was made available to consumers in March 2018. To date,
more than 1200 unique individuals have completed the survey and
submitted their responses, yielding some key observations.

"Our goal was to give families a way to check how well their financial
security instincts and actions are aligned," said Jim Morgan, president
and chief executive officer of SBLI. "Surveying the results, we've found
that despite best intentions, a significant number of participants'
actions haven't always matched up with plans, leaving some families less
prepared for financial challenges than they envisioned."

SBLI Survey -- Consumer Attitudes toward Family Financial Security

1. Most Agree It's Important; Most Do Not Act
financial security in the event of death)

36% have acted on a plan.

20% have a plan, have not acted.

27% have discussed but have no plan.

17% have never had the conversation.

2. Strong, Unsubstantiated Beliefs in Readiness

82% believe their loved ones would generally be financially protected if
something were to happen to them or their spouse.

22% have run the numbers to validate their confidence in their loved
ones' protection.

3. Responsible Actions Triggered by Personal Experience

36% have developed and acted on a family financial security plan.

60% (of 36%) developed and acted on a plan because of a personal
experience or a conversation with a friend or loved one.

44% have no plan to protect their family's financial security in the
event of death.

20% have a plan but have procrastinated implementing.

4. More Thinking than Action

3 + years is the amount of time a majority have spent thinking about
creating a plan.

54% can't explain why they have not acted or attribute it to their busy

36% don't believe they can afford the expense.

5. Thinking About Mortality is Uncomfortable and May Cause

43% Uncomfortable to think about

44% Comfortable thinking about

14% Not sure

6. Majority Are Willing to Make it a Priority

0.5-2.5% -- Amount of annual household income most people (74%) are
comfortable spending on life insurance

"The survey leaves no doubt that protecting their families financially
is a top concern for the participants," continued Morgan. "But busy
lives, mortality issues and financial concerns can present hurdles.
Committing to some research on plans and costs usually takes less time
than they think and can help them clear those hurdles to more peace of

With questions that look at realities, misconceptions, unconscious
stumbling blocks and more, the SBLI
Financial Awareness Quiz
lets parents get an overview of their family
financial security
, then see how their answers compare to those of
other people who completed this brief test.

the SBLI Financial Awareness Quiz.

About SBLI
Conceived by U.S. Supreme
Court Justice Louis D. Brandeis, Savings Bank Mutual Life Insurance
(SBLI) was established in Massachusetts in 1907. Today, SBLI is a
policy-holder-owned provider of safe, competitively priced life
insurance products, currently licensed in 49 states and the District of
Columbia. For more information on SBLI, visit
or call 1-888-GET-SBLI.

The Savings Bank Mutual Life Insurance Company of Massachusetts, Woburn,
MA. Products and features may not be available in all states. ©2018 All
rights reserved. NAIC #70435. 18-4237.

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