Owners of variable annuities, life insurance with a long term care benefit, or long term care insurance feel 20% more confident about retirement than do others, according to a new survey.
Sun Life Financial Inc., Wellesley, Mass., reached this conclusion in the fall 2011 release of its U.S. Unretirement Index. The survey is based on telephone interviews with 1,499 adults between the ages of 18 and 66 who are working full-time, part-time, or are in job transition.
Among the 42% of those polled who reported owning an annuity, life insurance with long term care benefit and/or long term care insurance, 43% say they expect to receive an annuity payment at age 67. This contrasts with the 34% who not do not expect to a receive payments at age 67 among the 35% of respondents who do not own these investments.
The first group also express greater confidence about retirement than the other non-owner respondents, the study adds.
