Financial Services Industry
Industry: Email Alert RSS FeedRetirees may be untapped life insurance market; Prudential targets retirement 'red zone'.(News)
Investment News, September, 2006
Byline: Gary S. Mogel Life isn't just for the young, and neither is life insurance. About 60% of 1,000 people close to retirement said they needed life insurance to provide for a dependent such as a child after their death, according to a survey released this month by Prudential Insurance Company of America in Newark, N.J.
About 17% of those surveyed said they needed the insurance to provide for an elderly parent under their care. "Retirement and the empty nest don't always coincide anymore,'' said Maria Umbach, vice president of marketing for individual life insurance for Prudential. With more Americans marrying later, having children later or caring for elderly parents, many people in their 60s are better off holding on to - or even...
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