more likely to say they need more information as the reason for their lack of financial protection planning. n Among English dominant His- panics, only 37 percent responded they needed more information. n One third of respondents (36 per-
cent) say their families’ future financial goals would be funded by getting an additional job if something happened to the breadwinner in the family. n One quarter (25 percent) report that their family’s future financial goals would be funded by life insur- ance; and one in five (20 percent) by retirement savings. n Hispanics under age 55 were
more likely to say their family would rely on someone taking an additional job (39 percent) than those who were age 55 or older (20 percent). n Those age 55 or older (31 percent)
are more likely to report their family would rely on retirement savings than those who are younger (18 percent). n On the other hand, the proportion
“
...commanding nearly $1 trillion in annual buying power, Hispanics can no longer afford to be in the dark when it comes to being financially prepared.”
of Hispanics who say their family would rely on life insurance is similar among the two age groups (26 per- cent of those under the age of 55 and 25 percent for those 55 or older). n Spanish dominant Hispanics
were more likely (34 percent) than English dominant Hispanics (23 percent) to report they just have not thought about providing their family with additional financial protection. Survey Methodology These are some of the findings of an Ipsos
poll conducted from February 11 to March 7, 2010 with a nationally representative sample of 500 Hispanics aged 18 and older, interviewed by telephone via Ipsos’ U.S. Hispanic Omnibus. With a sample of this size, the results are con-
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sidered accurate within 4.4 percentage points of margin of error, 19 times out of 20, of what they would have been had the entire adult population of Hispanics in the U.S. been polled. Respondents had the option to be interviewed in English or Spanish. All sample surveys and polls may be subject to other sources of error, including, but not limited to coverage error, and measurement error. Survey data was weighted to ensure that the sample’s composition reflects that of the actual U.S. population according to U.S. Census figures. To receive additional information, or speak
to a New York Life spokesperson, please con- tact Monica Contreras at (212) 576.8398 or mon-
ica_contreras@newyorklife.com.
Source: New York Life Insurance Company & His- panicPRWire
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www.hnmagazine.com Celebrating 18 Years of Diversity HISPANIC NETWORK MAGAZINE 77
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