Global Atlantic Study Highlights Shifting Financial Priorities and the Need for Planning Amid Pandemic

New research from Global Atlantic Financial Group found that more than eight out of ten Americans (83%) say making sure their loved ones are financially protected is important to them right now, yet two in five (43%) have no life insurance and only one third (33%) believe they have enough life insurance or other assets to protect their family in the event of their own death.

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The “Perceptions of Life Insurance During a Pandemic” study was conducted in August by Artemis Strategy Group on behalf of Global Atlantic, among 1,065 American adults to examine their views on life insurance, estate planning and shifting financial priorities.

Aside from contracting Covid-19 personally or having a family member or close friend contract the virus, the top concern among those surveyed was to ensure their family’s financial wellbeing.

A full two thirds (67%) of Americans say the Covid-19 pandemic has made them think about their own mortality, while seven in ten (69%) have reassessed at least one financial aspect of their life during the pandemic. These areas include their emergency savings situation (54% have reassessed), long-term savings and investments (49%), employment situation (39%), and life insurance (28%).

When asked how many years of income they would replace with life insurance in the event of an early death, nearly six out of ten (57%) said at least two years. More than half of those with $150K or more in household income would replace five or more years of income (54%).

Only one third of Americans had a will in place before the pandemic, but nearly three out of ten either made changes to it during the pandemic,

A robust emergency fund is the most critical component for your investment portfolio, according to Suze Orman.

The personal finance guru, appearing Monday on CNBC’s “The Exchange,” said the coronavirus pandemic has laid bare the need to have money saved in the bank for unforeseen challenges. She experienced it recently in her own life, after having emergency surgery this summer to remove a tumor on her spinal cord.

“The most important thing in anybody’s personal financial portfolio — more than all the stocks and everything — is at least an eight-month emergency [fund], maybe even a year emergency fund,” Orman said.

“If you haven’t learned that after this past year of what we’ve been through, I don’t know. You have to be on another planet,” added The New York Times bestselling author.

In late March, three days after the S&P 500 hit its intraday low of the coronavirus era, Orman told CNBC that she saw a perfect buying opportunity. “There couldn’t be a better time to start investing [than] right now,” she said after the bell on March 26. “Fortunes are going to be made out of this time.”

The benchmark U.S. stock index has risen nearly 35% since its March 26 close.

While equity investors may have seen strong gains in recent months, Orman emphasized the need to be clear-eyed about the possibility of financial hardships springing up that require people to rely on their savings. It may be a health scare or the loss of a job. Indeed, the Covid-19 pandemic has brought significant economic and health challenges for millions of Americans.

The personal savings rate has climbed during the pandemic, reaching an all-time high of 33% in April. It has declined since, however, and was at about 14% in August. That is still higher than the 7.6%

NEW YORK, Oct. 5, 2020 /PRNewswire/ — Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Portland General Electric Company between April 24, 2020 and August 24, 2020, inclusive (the “Class Period”), of the important November 2, 2020 lead plaintiff deadline in the securities class action. The lawsuit seeks to recover damages for PGE investors under the federal securities laws.

Rosen Law Firm, P.A. Logo
Rosen Law Firm, P.A. Logo

To join the PGE class action, go to http://www.rosenlegal.com/cases-register-1938.html or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] or [email protected] for information on the class action.

According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) PGE downplayed risks with its trading activity in wholesale electricity markets; (2) PGE’s wholesale energy trading activity would result in at least $127 million of realized and unrealized losses; (3) as a result, PGE would need to significantly cut its per-share guidance; (4) as opposed to defendants’ statements, PGE was not focused on and achieving low operating expenses; (5) PGE had inadequate disclosure controls and procedures and internal control over financial reporting; and (6) as a result, defendants’ public statements were materially false and/or misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than November 2, 2020. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, go to http://www.rosenlegal.com/cases-register-1938.html or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. of Rosen Law Firm

Three of the most prolific enterprise blockchain builders shared a virtual stage last week as they delved into the inner workings of how they use the technology popularized by bitcoin. Unlike your typical blockchain and cryptocurrency event, the trio—Mariana Gomez de la Villa of Dutch bank ING Group, Jennifer Peve of the Depository Trust & Clearing Corp. (DTCC) and Xue Wang from the second-largest bank in the world, China Construction Bank—spoke directly to senior-level executives at some of the largest companies in the world, sharing best practices on how to use the technology that some believe is a threat to their very survival.

The panel, Enterprise Blockchain Leaders: Tales From The Crypto, was just a small part of a larger event hosted by Forbes about our annual Blockchain 50 list of billion-dollar companies investing serious capital in the technology, and the platforms they’re using. 

Ripple chief architect David Schwartz joined Axoni founder Greg Schvey and Hyperledger vice president Daniela Barbosa to talk about best practices of the companies they’ve seen building on their platforms, followed by a chat between ConsenSys founder Joe Lubin and R3 cofounder Todd McDonald about how the platforms their companies build on—Ethereum and Corda respectively—could change the very fabric of what central banks consider money.

Beyond the management tips though, two executives shared never-before-seen documents about how they vet projects and manage stakeholders, and every company has either already given away the code at the core of their projects or plans to do so. Since blockchain is only as

NEW YORK, Sept. 30, 2020 /PRNewswire/ — Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Blink Charging Co. (NASDAQ: BLNK) between March 6, 2020 and August 19, 2020, inclusive (the “Class Period”), of the important October 23, 2020 lead plaintiff deadline in the securities class action. The lawsuit seeks to recover damages for Blink investors under the federal securities laws.

Rosen Law Firm, P.A. Logo
Rosen Law Firm, P.A. Logo

To join the Blink class action, go to http://www.rosenlegal.com/cases-register-1931.html or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] or [email protected] for information on the class action.

According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) many of Blink’s charging stations are damaged, neglected, non-functional, inaccessible, nor non-accessible; (2) Blink’s purported partnerships and expansions with other companies were overstated; (3) the purported growth of the Company’s network has been overstated; and (4) as a result, the Company’s public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than October 23, 2020. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, go to http://www.rosenlegal.com/cases-register-1931.html or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. of Rosen Law Firm toll free at 866-767-3653 or via e-mail at [email protected] or [email protected]

NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE.