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The M.O.O.D. Of America: Lincoln Financial Group Study Sheds Light On Life Insurance Ownership

RADNOR, Pa., Sept. 16, 2013 /PRNewswire/ --  Lincoln Financial Group (NYSE: LNC) today released new findings from its recent M.O.O.D. (Measuring Optimism, Outlook, and Direction) of America study that show a high level of empowerment and a positive outlook on the future among respondents who own life insurance.

According to the survey results, which are being released in conjunction with Life Insurance Awareness Month, 71 percent of life insurance owners believe they are "in control," a mindset that combines how comfortable respondents feel about their overall life, personal/family life, health and financial future. The survey also revealed that 87 percent of life insurance owners believe their life is heading in the right direction.

"People buy life insurance for a lot of different reasons, but regardless of what their motivation may be, it ultimately boils down to putting a measure in place that helps them face the future with confidence," said Mark Konen, president, Insurance and Retirement Solutions, Lincoln Financial Group. "We see this reflected in a strong sentiment of empowerment expressed by life insurance owners from our M.O.O.D. study. Not just in terms of financial planning, but life in general."

Comprehensive Financial Planning Includes Life InsuranceM.O.O.D. data shows life insurance is among the top five most frequently-owned financial products, ranking fifth behind other financial staples that include checking/savings accounts, car insurance, credit cards and home insurance.

Taking this one step further, M.O.O.D. survey findings indicate that life insurance owners consider life insurance to be a valuable component of a well-rounded portfolio:

  • 74 percent of life insurance owners also own Retirement products (e.g. 401(k), 403(b), SEP, IRA, Roth IRA), compared to 44 percent of those who do not own life insurance.
  • 52 percent of working life insurance owners are also covered by short-term disability or long-term disability insurance through an employer, compared to 23 percent of those working non-life insurance owners.
  • 34 percent of life insurance owners also own mutual funds, compared to 16 percent of those who do not own life insurance.

Given these facts, it is not surprising that 68 percent of life insurance owners believe they are "very" or "somewhat" prepared for retirement, compared to 44 percent of non-owners.

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