The Longevity Curve

Americans Without Life Insurance Not Taking Action to Reduce Financial Risks

Income shortfalls in retirement the biggest concern

New research on consumer concerns about retirement funding from AIG. Visit here.

HOUSTON, July 17, 2018 – New research announced by American International Group, Inc. (NYSE: AIG) reveals that consumers who do not have life insurance feel less prepared financially for the illness or death of self or a loved one than people with life insurance; yet, they are not more likely to act to reduce risk. AIG also found that having insufficient retirement funds was among consumers’ most explored – researched, discussed or thought-about – risks.

“This research confirms that many people don’t feel fully prepared for the financial ramifications of death, chronic illness or a retirement income shortfall,” said Rod Rishel, Chief Executive Officer, Life Insurance, AIG. “Our Life Insurance business helps consumers mitigate financial risks by offering a wide range of innovative solutions designed to help individuals and their families when they need it most. We’ve also developed new resources to help financial professionals connect with and educate consumers about solutions designed to meet multiple needs.”

The Importance of Life Insurance

The research – conducted online with more than 8,100 U.S. consumers ages 21-64 – found that people who don’t own life insurance:

  • Feel 11 percentage points less prepared for death of self than those who have life insurance
  • Are 14 percentage points less likely than life insurance owners to increase their rate of retirement savings in response to the risk of a market crash
  • Are twice as likely to take actions to reduce financial risk of illness of self than of death

The solutions available through AIG’s Life Insurance business include products for consumers who may need increased supplemental income in retirement, as well as life insurance policies with integrated or available living benefit riders for chronic illness.

AIG also offers resources including Generation Station, an online tool to help financial professionals quickly pinpoint appropriate life insurance offerings based on a client’s age, sex, and a few other attributes. The tool, along with generational outreach tips, is at

Additionally, AIG has launched new online centers at and to share comprehensive information about index universal life (IUL) insurance products. IUL solutions are designed to offer life insurance protection, opportunities for cash accumulation, income in retirement, and a measure of protection against market downturns.

The AIG research was conducted online in the third and fourth quarters of 2017. Additional data and insights from the research will be released in coming months. For more information on AIG, visit

About the survey

many people don’t feel fully prepared for the financial ramifications of death, chronic illness or a retirement income shortfall

Respondents for this survey were selected from among those who have volunteered to participate in online surveys and polls. The data have been weighted to reflect the demographic composition of the adult U.S. public, and then filtered to household insurance decision-makers. As the sample is based on those who initially self-selected for participation in the panel rather than a probability sample, no estimates of sampling error can be calculated. All sample surveys and polls may be subject to multiple sources of error, including, but not limited to sampling error, coverage error, and measurement error.




AIG’s Life business is a part of the company’s Life & Retirement division, which brings together a broad portfolio of retirement, life insurance and institutional products offered through an extensive, multichannel distribution network. With its customer-focused service, breadth of product expertise, deep distribution relationships – and world-class team of talented employees who are passionate about what they do – Life & Retirement is well positioned to meet today’s and tomorrow’s growing needs.
American International Group, Inc. (AIG) is a leading global insurance organization. Founded in 1919, today AIG member companies provide a wide range of property casualty insurance, life insurance, retirement products, and other financial services to customers in more than 80 countries and jurisdictions. These diverse offerings include products and services that help businesses and individuals protect their assets, manage risks and provide for retirement security. AIG common stock is listed on the New York Stock Exchange and the Tokyo Stock Exchange.
Additional information about AIG can be found at and | YouTube: | Twitter: @AIGinsurance | LinkedIn: These references with additional information about AIG have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release.
AIG is the marketing name for the worldwide property-casualty, life and retirement, and general insurance operations of American International Group, Inc. For additional information, please visit our website at All products and services are written or provided by subsidiaries or affiliates of American International Group, Inc. Products or services may not be available in all countries, and coverage is subject to actual policy language. Non-insurance products and services may be provided by independent third parties. Certain property-casualty coverages may be provided by a surplus lines insurer. Surplus lines insurers do not generally participate in state guaranty funds and insureds are therefore not protected by such funds.
Policies issued by American General Life Insurance Company (AGL), Houston, TX, except in New York, where issued by The United States Life Insurance Company in the City of New York (US Life). Issuing companies AGL and US Life are responsible for financial obligations of insurance products and are members of American International Group, Inc. (AIG). Products may not be available in all states and product features, including rates, may vary by state.