Curiously, we discovered that whereas curiosity in merchandise described as “protected” or “assured” was successfully the identical amongst each monetary advisors and shoppers, monetary advisors overwhelmingly thought that merchandise described as “assured” could be extra engaging (which wasn’t the case). In different phrases, whereas monetary advisors would possibly assume that the time period “assured” resonates extra with shoppers, this proof suggests in any other case.

There was a transparent distinction in perceived skepticism, although, the place each monetary advisors and shoppers have been extra skeptical of merchandise that described themselves as “assured.”

General, the evaluation means that curiosity in a product or resolution that’s described as “protected” is more likely to be similar to one described as “assured,” though doubtless with barely much less skepticism across the potential advantages.

What’s in a Title? Client Perceptions

A shopper survey was fielded by Morning Seek the advice of from June 27-29 with 2,206 respondents. It was a break up survey, during which half the respondents have been requested questions utilizing terminology round “protected” and the opposite half utilizing “assured.” There have been 5 questions of curiosity and one open textual content query.

The accompanying graphic features a phrase cloud with responses for the open textual content query, which requested how the respondent would describe both “Protected Earnings” or “Assured Earnings” to a younger youngster.

We are able to see that whereas there are similarities in perceptions, there are additionally variations. Maybe most notably, whereas the phrase “assured” featured prominently amongst these requested about “protected earnings,” the time period “protected” was not generally cited amongst these requested about “assured earnings.” To some extent, this means that customers could also be much less conversant in the “protected earnings” terminology.

For our shopper evaluation, we narrowed the respondent profile to these older than 45 with at the very least $100,000 in monetary property, since these are the people who’re probably to truly buy an annuity, or comparable product, providing both sort of profit (And whereas perceptions of youthful respondents with decrease property could be fascinating, they’re unlikely to mirror the cohort of households who would really purchase these merchandise).

A complete of 313 respondents met this threshold, and the accompanying exhibit contains details about the proportion of respondents both agreeing or strongly agreeing to being focused on such a product that gives attributes which might be both protected or assured.

We are able to see that whereas Protected has a slight edge over Assured, there isn’t a significant distinction in curiosity between merchandise described utilizing these two phrases. There may be, nevertheless, a notable distinction within the skepticism across the potential advantages.