BOSTON, Aug. 5, 2015 /PRNewswire/ -- America's adults paint a gloomy outlook for our children's financial prosperity, expecting them to struggle with living costs, student loans and the toll of the recent economic downturn – but optimistically believe the next generation will enjoy better health than them. These findings are revealed in the 2015 Next Generation Reality Report from online term life insurance provider Haven Life, which commissioned accredited research firm YouGov to poll the views of a representative sample of 1,124 American adults.
Key highlights from the report include:
- Only one in eight (13%) American adults believe their children will be better off financially
- More than half of American adults (52%) believe their children will have less disposable income in the future
- Only one in five Americans (20%) believe their children will have a better quality of life
- Two thirds (66%) of Americans believe their children will be at least as healthy or have healthier lifestyle habits
"For the baby boomer generation, pocket money from mom and dad was only part of their early childhood. Today's parents are increasingly prepared to worry about and provide for their children's financial well-being far into their adulthoods," said Yaron Ben-Zvi, co-founder and CEO, Haven Life. "With high living costs and loan burdens now a part of normal, everyday life for today's expectant parents, it's never too soon to start preparing our children to beat the odds and have the strongest financial footing entering their adult lives. This starts with having open conversations about money."
But the world will be a better place (if money's not your benchmark)
According to the 2015 Next Generation Reality Report, today's adults believe our children will enjoy better health and overall will lead healthier lifestyles than previous generations (66%). Attitudes towards other social issues will also improve as the new generation reaches adulthood: half of Americans (50%) believe their children will be more environmentally conscious and lead greener lifestyles. An additional 53 percent believe the next generation will be more ethnically and racially diverse than the current, and only 14 percent believe less so.
"There's no question the next generation will benefit greatly from all the various progressive social education campaigns that have launched over the past decade. Our report shows America anticipates a healthier, more socially responsible and inclusive generation," said Ben-Zvi. "It's important though that an understanding of and appreciation for financial health and wellness doesn't fall by the wayside as the next generation of parents ensure they pave the way for a better and more prosperous future for their families."
Haven Life offers the only place where you can purchase fully medically underwritten term life insurance online, demystifying the typically time-consuming and confusing life insurance purchasing process.
View the full 2015 Next Generation Reality Report.
Haven Life commissioned YouGov to poll the views of a representative sample of 1,124 U.S. adults in Q1 2015. The survey was carried out online. The figures have been weighted and are representative of all U.S. adults (aged 18+).
About Haven Life
Haven Life (https://havenlife.com) offers the first quality term life insurance policy that you can purchase entirely online. Our aim is to transfer the typically time-consuming and confusing process into one that's easier, faster and just plain better. Haven Term* is designed to be applied for and approved in real-time. When you apply for Haven Term, you receive an immediate decision and coverage can begin right away.
Haven Life Insurance Agency, Inc. is backed and wholly owned by MassMutual**. For more information, please visit https://havenlife.com.
*Haven Term is a term life insurance policy issued by Massachusetts Mutual Life Insurance Company (MassMutual), Springfield, MA 01111 and offered exclusively through Haven Life Insurance Agency, Inc.
**MassMutual refers to Massachusetts Mutual Life Insurance Company
SOURCE Haven Life