The survey found 71% of Americans "value the little things" more than they did before the pandemic. (Photo: NadyaEugene/Shutterstock)
The COVID-19 pandemic has caused more consumers to reassess their priorities in the midst of untold challenges. Life Happens, a nonprofit that educates consumers about life insurance, polled Americans in January and found that life's traditional milestones — getting married, having a baby — have shifted somewhat, as the value of security in the face of so much uncertainty increases.
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"Traditional milestones and outlooks on life have been upended, leading many to reevaluate what's important in life and their relationships," Faisa Stafford, president and CEO of Life Happens, said in a statement.
Nearly six in 10 respondents said the pandemic has "drastically changed" which milestones they hope to hit in their lives. Their top priority is financial security, followed by having a successful career and retirement.
Having zero debt tied with having children in consumers' list of priorities.
The pandemic has also changed people's outlook on day-to-day life.
- The survey found 71% of Americans "value the little things" more than they did before the pandemic.
- 45% are talking with their families more, and 43% are speaking their minds.
- When travel is safer, 42% of respondents say they will take more vacations.
- 41% want to be more confident and creative in expressing themselves.
The survey found three-quarters of respondents believe it's important to get their finances in order this year. Over half (55%) said they're having explicit discussions with loved ones about life insurance, including reviewing existing policies and buying new ones.
"For our loved ones, including our children, we want to be as prepared as we can be and anticipate anything that may arise," Reena Patel, licensed psychologist and board certified behavioral analyst, said in the statement. "This can mean filling up the nursery, stocking up for any emergencies and also thinking about our finances long-term. You create a lifelong toolbox that has all your essentials. Our biggest job is to ensure security for our children and loved ones, let's make sure to add life insurance in that toolbox to make it complete."
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