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29 March 2016

Will you have enough income in retirement?

Image: How well protected are employees against key financial risks?The prospect of living longer is attractive, but you may not enjoy that extra time very much if you don’t have enough money. In a newly released report, "How Well Protected Are Employees Against Key Financial Risks?" Prudential Group Insurance provides a holistic approach to understanding the financial risks employees face both before and while in retirement, and how to give them a more comprehensive, long-term view of financial protection.
 
The paper, which builds upon work that began in 2015, covers some key topics such as the loss of income due to premature death, illness or injury, out-of-pocket medical and non-medical expenses, and outliving assets in retirement.
 
"The challenge for employers is to help their workers determine what they need and how they can take advantage of existing company-paid and voluntary benefit offerings to best mitigate the financial risks they face," says Jessica Vanscavish, vice president of voluntary products for Prudential Group Insurance.
 
Educating employees on the need for adequate protection during their working years can potentially help decrease the risk of outliving assets in retirement. "Employees may tend to use their retirement savings to cover hardship expenses during their working years," adds Vanscavish. "Knowing employees’ exposure to key financial risks and ways to protect against those risks can help employees stay on track for a secure retirement." 
 
Want more information? Read the report. Want to speak with Jessica? Contact Sheila Bridgeforth.
 
"Group Insurance coverages are issued by The Prudential Insurance Company of America (Prudential), a Prudential Financial company, Newark, NJ."

© 2016 Prudential Financial, Inc. and its related entities.

0288859-00001-00

Contact(s):
Sheila Bridgeforth
phone: 973-802-6852
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