Future of Financial Services Not Much Different: LIMRA National Underwriter (Life and Health Financial Services Edition) (11/01/02) Vol. 73, No. 3 p.32; De Simone, Marcella
Speaking at LIMRA International's recent annual meeting, a panel of experts speculated that only gradual changes will occur in the financial services market by 2010. According to the panel, the growth of the U.S. Hispanic population will spur Hispanic interest in financial services products, and women, who traditionally live longer than men and often care for aging parents, will become a major focus of the insurance market. With the retirement of many baby boomers within the next decade, the total amount of assets in 401(k) plans is expected to grow to an estimated $200 billion by 2010, and an increase of interest in the long-term care insurance market is also expected.