(Springfield, MA) – As the Asian-Indian population continues to grow, so does their need for financial education. Sixty percent of Asian-Indian participants in Massachusetts Mutual Life Insurance Company’s (MassMutual’s) State of the American Family Study* indicated that they are actively seeking ways to educate themselves on finances.
Over the past several years, MassMutual has engaged in market research to better understand the unique financial needs of multicultural groups in the United States. One of the consistent findings has been the need for clear and understandable financial information from a trustworthy source. To help Asian-Indian consumers learn more about basic protection products that can help them set a strong foundation for their financial future, MassMutual has produced a series of three simple videos.
The short and easy-to-understand videos explain the basics of annuity, disability income insurance and life insurance products for multicultural adults who are trying to educate themselves about their finances.
“During focus groups conducted for MassMutual**, Asian Indians indicated that they have a strong propensity towards saving and an equally strong emphasis on children’s education and family security,” said Nimesh Trivedi, director of Multicultural Market Development at MassMutual.
“The currently struggling economy makes it imperative that all individuals have the information they need to plan for their and their families’ secure future. Our hope is that they’ll then meet with a knowledgeable financial professional who can sit with them and answer any remaining questions or address any concerns they may have to help protect the ones they love,” he added.
For additional in-language information on planning for your and your families’ financial future, logon to massmutual.com/asianindian.
*The study was conducted by Forbes Consulting Group (2011), February 2011, Lexington, Mass., for Massachusetts Mutual Life Insurance Company and involved a 20-minute online questionnaire administered to 1,143 respondents. The sample included parents, ages 30-64, with household incomes of $75,000 or more, if Asian Indian owning a home and currently owning/interested in owning life insurance, disability income or LTC.
**MassMutual conducted primary research with the Asian-Indian market in 2009. A total of four (4) focus groups were conducted among Asian Indian consumers. Two sessions were conducted in San Jose, CA and two sessions were held in New York, NY. Overall, a total of 32 respondents participated in the final study. All respondents were required to be homeowners, have a total household income of $100,000 or greater, married (half of whom had children in the household) and interested in acquiring life insurance/disability income/long term care insurance in the next 6 months.
Founded in 1851, MassMutual is a leading mutual life insurance company that is run for the benefit of its members and participating policyowners. The company has a long history of financial strength and strong performance, and although dividends are not guaranteed, MassMutual has paid dividends to eligible participating policyowners consistently since the 1860s. With whole life insurance as its foundation, MassMutual provides products to help meet the financial needs of clients, such as life insurance, disability income insurance, long term care insurance, retirement/401(k) plan services, and annuities. In addition, the company’s strong and growing network of financial professionals helps clients make good financial decisions for the long-term.
MassMutual Financial Group is a marketing name for Massachusetts Mutual Life Insurance Company (MassMutual) and its affiliated companies and sales representatives. MassMutual is headquartered in Springfield, Massachusetts and its major affiliates include: Babson Capital Management LLC; Baring Asset Management Limited; Cornerstone Real Estate Advisers LLC; The First Mercantile Trust Company; MassMutual International LLC; MML Investors Services, LLC, Member FINRA and SIPC; OppenheimerFunds, Inc.; and The MassMutual Trust Company, FSB.