* Full- and part-time workers<\/p>\n
Beyond the Financial Impact<\/h4>\n
Coronavirus has disrupted many Americans\u2019 day-to-day lives to different degrees. Thirty-nine percent report social distancing has demanded significant lifestyle changes and another 34% say they have made moderate lifestyle changes. More than a third of Americans believe they will have to practice social distancing for 1-2 months and more than a quarter (27%) think it will last more than 2 months.<\/p>\n
\u201cWe are in a unique situation where the economic downturn is not necessarily the primary concern for consumers,\u201d said Salka. \u201cOur research confirms that a significant portion of the population is worried about their physical and mental health and access to medical care and basic necessities.\u201d<\/p>\n
Among consumers\u2019 top personal concerns prompted by the coronavirus outbreak are:<\/p>\n
- \n
- Family\/friends in high-risk categories \u2013 59%<\/li>\n
- Children\u2019s schooling\/education* \u2013 54%<\/li>\n
- Access to medical care \u2013 45%<\/li>\n
- Physical health \u2013 43%<\/li>\n
- Access to food and other necessities \u2013 40%<\/li>\n
- Mental health \u2013 35%<\/li>\n<\/ul>\n
* Those with children under age 23<\/p>\n
Coronavirus Spurs Societal Concerns<\/h4>\n
While consumers are worried about their personal well-being and that of their friends and family, the study uncovered more anxiety about broader issues. Seven in 10 consumers are worried about the economic impact of coronavirus and how long it will last, with 71% of consumers believing the U.S. economy is likely or extremely likely to enter a recession this year. Two-thirds (66%) are concerned about whether the U.S. healthcare system is prepared for and capable of handling the influx of patients; 6 in 10 are worried about the federal government\u2019s ability to manage the crisis; more than half are worried about their state\/local government\u2019s ability to manage the crisis; and half are concerned about the overall societal impact this event will have.<\/p>\n
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<\/a><\/p>\nTo view more of the findings, please refer to the following infographics:<\/p>\n
Methodology<\/h4>\n
First initiated in early 2008 to gauge consumer opinion of the economy and the financial services industry, LIMRA\u2019s Consumer Sentiment Survey has continued to monitor Americans\u2019 sentiment about the economy and confidence in industries since 2008. The latest results are based on responses from 3,000 Americans ages 18+, weighted to the U.S. general population. The survey was conducted March 25-26, 2020.<\/p>\n
About LIMRA<\/b>\u00ae<\/sup><\/h4>\n
Serving the industry since 1916, LIMRA helps to advance the financial services industry by empowering nearly 700 financial services companies in 53 countries with knowledge, insights, connections, and solutions. Learn more at www.limra.com<\/a>.<\/p>\n
Source: LIMRA<\/i><\/p>\n
Tags: coronavirus<\/a>, epidemic<\/a>, LIMRA<\/a>, survey<\/a>, United States (USA)<\/a>
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