Studies show that Americans say they are unprepared for longevity and that they feel too financially stretched to afford life insurance. "These findings underscore that there is room to further educate clients -- not only with respect to increasing longevity, but also more broadly about the value of long-term planning," said Greg Oberland of Northwestern Mutual. The longevity-readiness study was conducted by Northwestern Mutual, while a LIMRA study included consumers' perception of insurance affordability.

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