{"id":36509,"date":"2017-03-28T17:00:37","date_gmt":"2017-03-28T06:00:37","guid":{"rendered":"https:\/\/riskinfo.com.au\/news\/?p=36509"},"modified":"2019-10-18T22:04:57","modified_gmt":"2019-10-18T12:04:57","slug":"confidence-in-insurance-climbs-with-advice","status":"publish","type":"post","link":"https:\/\/riskinfo.com.au\/news\/2017\/03\/28\/confidence-in-insurance-climbs-with-advice\/","title":{"rendered":"Confidence in Insurance Climbs With Advice"},"content":{"rendered":"

A recent Million Dollar Round Table (MDRT) survey of consumers in the United States has identified similar findings to Australian surveys when it comes to the attitudes of consumers who have never utilised the services of a financial adviser.
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\"mdrt-1366.1-5827-IntimidationofTerms_Infographic_mech_RGB\"<\/a>
Click for a full size version of MDRT Survey Infographic<\/figcaption><\/figure>\n

The survey found that US consumers who have never used a financial adviser feel less confident about complex financial matters, including life insurance, and are less prepared than those who have engaged with an adviser.<\/p>\n

The online survey of 2200 American adults aged 18 and over found levels of confidence in life insurance matters were higher across the board for those who had used an adviser as were the amount of people who had taken up life insurance.<\/p>\n

According to the survey, 63% of people who hired an adviser had life insurance compared to 46% who had not taken professional advice while 62% of advised respondents were confident about their life insurance compared to 51% of those who had received advice. This pattern was repeated for disability insurance (42% compared with 35%) and long term care insurance (41% compared with 31%).<\/p>\n

\u201cConsider working with an advisor like hiring a professional builder to renovate your home. While you may be able to paint the walls on your own, your overall knowledge wouldn\u2019t enable you to replace your pipes or build new cabinets in your kitchen,” Hanna said. Hence you should always engage experts in whatever field you not competent in. In this case https:\/\/www.brushworkpainters.com\/gettysburg-pa<\/a>\/ can help with with painting job and a good financial adviser will help you with your finances.<\/p>\n

The survey, which featured around 500 people who had used an adviser and 1700 who had not, also found that 79% of respondents had never engaged a financial adviser, echoing similar numbers of engagement as those found in the Australian market.<\/p>\n

Of that number, 38% of the MDRT survey respondents stated they were able to manage their own finances while 36% believed it would cost too much money.<\/p>\n

MDRT President Mark J. Hanna<\/strong> said the survey results indicated that while some people felt confident with financial matters the proportion of those in that category declined when it came to more complex areas of life insurance.<\/p>\n

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The MDRT will hold its 2017 Annual Meeting<\/a> in Orlando, Florida in June, with more than 12,000 advisers expected to attend from around the world, including a contingent from Australia.<\/p>\n

View MDRT\u2019s full study results to learn why consumer confidence in financial planning is key.<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

A recent Million Dollar Round Table (MDRT) survey of consumers in the United States has identified similar findings to Australian surveys when it comes to the attitudes of consumers who have never utilised the services of a financial adviser.<\/p>\n","protected":false},"author":3,"featured_media":36541,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[282],"tags":[4247],"class_list":["post-36509","post","type-post","status-publish","format-standard","has-post-thumbnail","category-associations","tag-feature"],"_links":{"self":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/36509","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/comments?post=36509"}],"version-history":[{"count":0,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/36509\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media\/36541"}],"wp:attachment":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media?parent=36509"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/categories?post=36509"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/tags?post=36509"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}