11.01.25

How Life Insurance Closes the Financial Confidence Gap

by: Ramon Cassanova

New York Life’s latest Wealth Watch survey found that 92% of Americans are facing financial concerns, driven by inflation, debt and uncertainty, but only 23% have a formal retirement plan and 17% work with a financial professional. The study highlights a “financial confidence gap” between where people are financially and where they want to be. According to the findings, life insurance ownership, professional guidance and comprehensive financial planning are key to improving financial confidence. Life insurance, especially whole life policies, provides both protection and long-term financial flexibility, serving as a foundation for holistic planning, debt management and retirement security, according to Ramon Casanova, head of life insurance solutions at New York Life.

Read the full article on InsuranceNewsNet