The survey revealed one in five respondents (19%) believe they are severely under-protected, and only 46% describe their family as being protected when it comes to their finances.
Other findings from the survey include:
• Parents are less likely to feel their family is protected than are adults without a child under 18 (36% vs. 51%).
• Older adults – those 60 and up – are much more likely than adults ages 30-59 to feel that their family if financially protected (63% vs. 39%).
• A large gap also emerges across income groups; those with a household income of $50,000 or more are more than twice as likely as those with a lower household income to feel that their family is protected financially (61% vs. 27%).
• Others who are most likely to feel financially protected include college graduates (60%) and retirees (63%).
The survey was conducted by Ipsos on behalf of the New York Life Insurance Company on November 10-14, 2011. For the survey, a national sample of 1,011 adults ages 30 and older from Ipsos’ U.S. online panel were interviewed online.