The retirement landscape is changing now more than ever before.  In a recent survey of 2,500 American workers between the ages of 45 and 60, 61% they feared outliving their income. With the demise of employer sponsored pensions and the ever-present uncertainty of Social Security benefits, the part of retirement that is shouldering more of a burden is personal savings.  As it has always been, an Annuity is the only financial tool in the American marketplace that is able to guarantee income for as long as someone lives.

Annuities are financial products that create a pension for your retirement. You make one or more payments now, and in return, you get an income stream in the future. The standard annuity pays a lifetime pension. When clients purchase an annuity, it can help provide security and some peace of mind knowing that they are taking a very important step in planning their retirement and guaranteeing that they will never outlive their income.

In order to provide customers with the best rates, products, and services for their financial needs, http://www.wholesaleinsurance.net has added an Annuities resource section to the life insurance website. Users can now learn about annuities, compare the different types, and even obtain annuity quotes directly from the site.

For more information about the Wholesale Insurance Annuity addition, visit: http://www.wholesaleinsurance.net/blog/press-releases/annuity

EL DORADO HILLS, Calif., April 21, 2011 /PRNewswire/ — When the last child has moved out of the house, many “empty nesters” question if maintaining a life insurance policy is necessary.  Before cancelling or reducing your insurance coverage, take some time to re-evaluate how your circumstances have changed, and consider what your future needs may be.

“Many empty nesters are faced with financial obligations, such as the mortgage on a home or second home, and could be financially devastated if a spouse dies or becomes disabled,” said insurance expert Gary Lardy, CEO of IntelliQuote.

If the unthinkable happens so close to retirement, you may be forced to work long into your golden years.  Marvin H. Feldman, CLU, ChFC, RFC, President and CEO of the Life Foundation (www.lifehappens.org) recently posted, “Researchers are telling us that the expected retirement age for U.S. workers is rising and that people are planning on working longer, as opposed to saving more.”

NEW YORK, April 13, 2011 /PRNewswire/ — AXA Equitable Life Insurance Company launched today two new video calculators featuring licensed and experienced financial consultants who help guide individuals through the process of determining how long their retirement savings may last or how much life insurance coverage they may need to protect their families’ future.

The video calculators, unique to AXA Equitable, provide users with an interactive experience where they receive virtual consultations. Financial consultant David Tornetto offers individuals guidance on estimating how savings may grow until retirement and how withdrawals may impact savings during retirement. Financial consultant Char Granstra navigates users through a process to assess how much life insurance coverage they may need to replace their income. Combined, these two financial professionals have more than 40 years of experience helping people define and work toward their financial goals.

“Our video calculators provide people with more than just a figure of how much money they might need for a particular life event,” said Andrew McMahon, president of AXA Equitable Life Insurance Company. “These calculators, featuring real financial professionals, simulate what they can expect in an initial conversation with a financial consultant.

“Planning for your retirement, assessing your family’s readiness in the event of death, even just meeting with a financial consultant for the first time – these can all be daunting tasks,” McMahon said. “The virtual consultation can help people get more comfortable, be better prepared when actually meeting with a financial professional for the first time, and hopefully get more out of the meeting in terms of deciding next steps.”

The financial consultants take users through a step-by-step process to determine the how long their retirement savings may last or how much life insurance coverage they may need based on their life stage, current financial situation and future goals. If a user has a question or needs more information about a particular term or topic, they simply click on a button and the financial consultant explains the topic and provides guidance in greater detail.

“Studies have shown that people spend more time planning for a one-week vacation than they do planning for retirement,” said Connie O’Brien, senior vice president of Internet Strategy and Design for AXA Equitable. “We recently tested this in one of ourRetirement Reality Series person-on-the-street interviews and found solid evidence to support the theory. We created the video calculators to make it easier for people to take the first step toward planning for the future. With the Web technology available today, we can provide customers with a new level of resources to help them make more informed decisions at their pace and in a way that is comfortable and convenient for them.”

The video calculators and virtual consultations are available at www.axa-equitable.com.

About AXA Equitable

In business since 1859, AXA Equitable Life Insurance Company (NY, NY) is a leading financial protection company and one of the nation’s premier providers of life insurance, annuity, and financial products and services. The company’s products and services are distributed to individuals and business owners through its retail distribution channel, AXA Advisors, LLC (member FINRA, SIPC) and to the financial services market through its wholesale distribution channel, AXA Distributors, LLC. Find AXA Equitable on Facebook and Twitter or visit the company’s multi-media newsroom The Source @ AXA Equitable.

AXA Equitable, a subsidiary of AXA Financial Inc., is part of the global AXA Group, a worldwide leader in financial protection strategies and wealth management. “AXA Group” refers to AXA, a French holding company for an international group of insurance and financial services companies together with its direct and indirect consolidated subsidiaries. For more information, visit www.axa-equitable.com.

GE – 62059 (4/11)

SOURCE AXA Equitable

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ATLANTA–(BUSINESS WIRE)–Life insurance settlement company The Lifeline Program today released a consumer video on what makes a life settlement company successful. Featuring testimonials from employees and senior executives, the video offers a glimpse inside a 20-year-old company that helps seniors unlock the hidden value of life insurance to help fund retirement. The video offers insight into how the company is run as well as its promotional relationship with television legend Betty White.

“Our video explains what makes our company different and why we believe that life settlements will soon become a key part of every senior’s retirement plan.”

A life settlement is the sale of an existing life insurance policy, by an elderly policyholder, for more than the current cash surrender value. A settlement is a unique alternative to surrendering a policy or letting it lapse and can be offered on term, whole or universal life policies.

“We have always believed that our employees are the greatest advocates for our company and for life settlements,” said Stephen Terrell, executive vice president of The Lifeline Program. “Our video explains what makes our company different and why we believe that life settlements will soon become a key part of every senior’s retirement plan.”

Life insurance settlements are gaining in momentum for a number of reasons, according to Terrell. The year 2011 is already being called the year of the Golden Boomers as more and more seniors begin to retire. At the same time, this is the best-insured generation of all time, and analysts have predicted that life insurance settlements could be a $100 billion industry over the next ten years.

“When you add the market factors with the common desire among boomers to gain the most from their assets, the overwhelming conclusion is that life settlements will have a banner year,” said Terrell.

The video was produced by Fisheye Media Productions of Alpharetta, Ga. http://www.fisheye.tv.

The Lifeline Program is a life settlement provider based in Atlanta, Ga., and is a division of Wm. Page and Associates, Inc. Founded in 1989, the company assists seniors with retirement planning options and actively partners with insurance agencies and broker dealers to establish life settlement business lines. For more information on life settlements, contact Stephen Terrell of The Lifeline Program at 770-724-7300 or visit www.thelifeline.com.

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NEW YORK, Dec. 16, 2010 /PRNewswire/ — AXA Equitable Life Insurance Company released today results from its Retirement Reality Study – one of the largest global surveys to poll workers and retirees on numerous financial topics, including their views on and preparations for retirement.

Results from AXA’s latest survey show that today’s working world anticipates retiring much later than previous generations. The average age of retirees polled around the world is 57 years old. However, current workers anticipate retiring at 61 – a full 4 years later.

In addition to working longer, people in most countries are expecting a lower standard of living in retirement. Globally, 43 percent of workers and 30 percent of retirees believe their retirement income will be insufficient. Working people know they need to prepare for retirement, with 46 percent saying they have started to prepare and an additional 37 percent intending to start later.

“Our survey shows people realize they will be increasingly dependent on personal savings in retirement but aren’t ready,” saidAndrew McMahon, senior executive vice president of AXA Equitable and president of its Financial Protection & Wealth Management business. “Clearly individuals are coming to terms with the reality that they won’t be able to retire until many years after they hoped, unless they prepare successfully.”

Americans Are Getting It Right at a Younger Age

Americans are among the top nations surveyed to say that they have already started their retirement planning. Among U.S. Workers, 72 percent said they have started saving for retirement, compared with a global average of 46 percent. Not only has a large percentage of Americans started preparing for retirement, they are starting younger than people in other countries. U.S. workers are among the youngest to say that they have started to prepare for retirement; the average age in the U.S. is 31, compared with the worldwide age of 34.

Although Americans seem more prepared than their counterparts in other countries, the anticipated retirement age is still among the highest of any country. The average American anticipates retiring at 64, three years older than the survey average of 61, and six years older than their desired retirement age of 58.

This is the fifth global survey released by AXA Equitable and its parent, AXA Group, and is part of the company’s continued effort to enhance its understanding of the retirement issues.

Additional survey findings include:

• The main triggers to start saving for retirement in the U.S. are:
  • Employer contributions to a defined contribution plan
  • Reaching a key age
  • Advice from family or friends

• Americans have the most self-reliant view of retirement savings, with 58 percent of those polled, a greater percentage than any other nation surveyed, preferring to fund their retirement savings on their own rather than depend on the government.

• U.S. workers prefer meeting face-to-face with someone when purchasing an investment.  In addition, 65 percent of workers and 65 percent of retirees have used insurance, financial or other professionals as sources of information to find out about financial products vs. 50 percent among workers and 44 percent among retirees across all countries.

“Because Americans proactively approach retirement planning it’s especially important to seek advice from a trusted professional to help them choose the right products for where they are in their lives,” said Mr. McMahon.

About the Study

Research firm GfK NOP managed the survey globally for the AXA Group.  Local firms fielded the questions in each country fromMarch 1st to May 25, 2010.

A total of 31,539 people between 25 and 75 years old were interviewed in 27 countries, making it one of the largest studies on retirement in the world. The countries included in the study are: Australia, Belgium, Canada, China, Czech Republic, France,Germany, Hong Kong, Hungary, India, Indonesia, Italy, Japan,  Luxembourg,  Malaysia,  Morocco,  Philippines,  Poland,  Portugal, Singapore, Slovakia, Spain, Switzerland, Thailand, the United Kingdom and the United States. Each country had a minimum sample size of 1,000 people, 500 who are working and 500 who are retired, including the U.S. The error margin for the U.S. results at the 95 percent confidence level is +/-3 percent. To access the entire survey, go to www.axa-equitable.com.

(Editor’s note: Research statistics should be attributed to “AXA Equitable Retirement Reality Study.”)

About AXA Equitable

In business since 1859, AXA Equitable Life Insurance Company (NY, NY) is a leading financial protection company and one of the nation’s premier providers of life insurance and annuity products, as well as investment products and services through its affiliates, including, AXA Advisors, LLC. The company’s products and services are distributed to individuals and business owners through its retail distribution channel, AXA Advisors and to the financial services market through its wholesale distribution channel, AXA Distributors, LLC.

AXA Equitable, a subsidiary of AXA Financial Inc., is part of the global AXA Group, a worldwide leader in financial protection strategies and wealth management. “AXA Group” refers to AXA, a French holding company for an international group of insurance and financial services companies together with its direct and indirect consolidated subsidiaries. For more information, visit www.axa-equitable.com.

SOURCE AXA Equitable Life Insurance Company

NEWARK, N.J., Sep 20, 2010 (BUSINESS WIRE) — The 2008-2009 recession led to smaller cost increases at many long-term care facilities and forced some to close altogether, according to a study released today by Prudential Financial Inc. (NYSE). The bi-annual report, 2010 Long-Term Care Cost Study, measures trends in costs associated with the major forms of long-term care services. And, for the first time, the research includes consumer views that measure sentiment around the cost of services and levels of awareness and concern about the future need for long-term care and how to fund it.

“Consumer misperceptions continue to exist about long-term care services and coverage options,” said Malcolm Cheung, vice president, Prudential Long-term Care Insurance. “Of those surveyed 25 percent said they had no idea what a day in a nursing home costs and more than a third continue to believe private health insurance and Medicare will cover their future extended care costs.”

Increases in long-term care costs slowed somewhat since 2006. However, from 2004 to 2010 the compound annual growth rate averaged six percent according to Prudential’s report. By comparison, the consumer price index increased at a rate of just 2.5 percent during this same period, emphasizing the importance of choosing the appropriate type of inflation protection when purchasing long-term care insurance.

The study found that home health care costs grew by 13 percent since 2008 largely due to a 17 percent increase in costs to $54 per hour for Licensed Practical Nurses, which represents only about one-quarter of home service usage. The national average cost for a Home Health Aide or Certified Nursing Assistant remained flat at $21 per hour. Assisted living facilities saw the smallest increase with the average annual cost for a room rising only 2 percent in the last 2 years, compared to a 13 percent increase in the prior two-year period. The average daily cost for a private nursing home room in 2010 is $247, or $90,155 annually, a 14 percent increase since 2008.

At the same time, fewer than 1 in 4 mention long-term care insurance as a potential source of paying for any long-term care they may require. Seven in 10 Americans expressed concern about needing extended care in the future. “And with good reason,” Cheung said. “The fact remains, over the next 20 years, baby boomers will greatly impact the demand for long-term care services.” In the next 10 years, the number of Americans age 65 and older will increase by 35 percent to 55 million. And by 2030 that number will more than double according to the U.S. Census Bureau, 2010.

Prudential’s Cost of Care study provides State-specific average costs associated with nursing homes, assisted living facilities, and home health care services. The study results show the costs of long-term care services vary widely based on a variety of factors including geographic area, facility size and services. People who live in Alaska, Connecticut, Massachusetts, Hawaii and New Jersey can expect to pay the most for nursing homes and assisted living facilities, while Louisiana, Arkansas, Alabama, South Dakota and Mississippi remain among the least expensive.

In addition to the report being available to consumers, Prudential offers an interactive consumer cost of care mapping tool on its website, designed to provide more in-depth State-specific cost detail aimed at arming consumers with essential facts to help them make better financial decisions. “While consumers understand the importance of planning for their financial future, they need to learn more about long-term care services and the role of long-term care insurance in retirement planning,” added Cheung.

With over 20 years of long-term care insurance experience, Prudential is a leading long-term care insurance carrier serving individuals, associations, and employers. Superior service and product expertise allows Prudential’s insurance professionals to work easily and seamlessly across product lines, including long-term care, life, and annuities.

Prudential Financial, Inc. (PRU 55.98, +0.76, +1.38%), a financial services leader, has operations in the United States, Asia, Europe, and Latin America. Prudential’s diverse and talented employees are committed to helping individual and institutional customers grow and protect their wealth through a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds, investment management, and real estate services. In the U.S., Prudential’s iconic Rock symbol has stood for strength, stability, expertise and innovation for more than a century. For more information, please visit http://www.news.prudential.com/

Long Term Care Insurance, life insurance, and annuities are issued by The Prudential Insurance Company of America, 751 Broad Street, Newark, NJ. Securities products and services offered through Pruco Securities, LLC. All are Prudential Financial companies.

Prudential, the Prudential logo and the Rock symbol are service marks of Prudential Financial, Inc. and its related entities, registered in many jurisdictions worldwide.

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Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=6436049&lang=en

SOURCE: Prudential Financial, Inc.

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ARLINGTON, Va., and WINDSOR, Conn., Aug. 30 /PRNewswire/ — Despite the fact that most American families have less to fall back on financially than when the economic downturn began, ownership of individual life insurance has hit a 50-year low, according to a new LIMRA study.

The Trends in Life Insurance Ownership study, conducted every six years by LIMRA, found that only 44 percent of U.S. households have individual life insurance. The number of U.S. households that have no life insurance whatsoever is growing.  Today, 30 percent of households (35 million) have no life insurance coverage, compared to 22 percent of households in 2004.  Among households with children under age 18, which arguably have the greatest need for life insurance, 11 million have no coverage.

“Clearly, more American families are living on the edge — surviving paycheck to paycheck — and, as our new study suggests, too many without the safety net that life insurance provides,” said Robert Kerzner, CLU, ChFC, president and CEO of LIMRA, LOMA, and LL Global.  ”The numbers tell a grim story.  Today, there are 11 million fewer American households covered by life insurance compared with six years ago.  A majority of families either have no life insurance or not enough, leaving them one accident or terminal illness away from a financial catastrophe for their loved ones.”

Families Focusing on Other Financial Priorities in Difficult Times

More than 40 percent of Americans say a major reason they have not bought more life insurance is because they have other financial priorities right now, such as paying off debt or saving for retirement.  However, the drop in life insurance ownership is not because families are not feeling vulnerable.   Among households with children under age 18, four in 10 say they would have immediate trouble meeting everyday living expenses if the primary breadwinner died today. Another three in 10 would have trouble keeping up with expenses after several months.

Record Number of Americans See Need for Life Insurance

Half of households feel they need more life insurance — the highest level ever.  Moreover, 24 percent of households with children under age 18 want to speak with a financial professional about their life insurance needs; and a quarter of all households plan to buy life insurance in the next year.  According to LIMRA’s study, life insurance beat out all other sources of financial assets or income that Americans expect to use to help pay bills and to maintain their lifestyle in the event of the primary wage earner’s death.

“With so many families continuing to struggle financially, there has never been a more critical time for people to own an adequate amount of life insurance,” said Marvin H. Feldman, CLU, ChFC, president and CEO of the LIFE Foundation. “This study shows that Americans place great value on the need for protection and half of all families recognize that they need more life insurance than they have, and that’s good news. Now they need to take the next step, and get the coverage they lack before it’s too late.”

Families Don’t Know Where to Turn for Help

About one in four middle-market households admit they don’t know how to obtain or reach their financial goals, including buying life insurance.  One of the biggest obstacles is lack of information.  Almost eight in 10 U.S. households currently do not have a personal life insurance agent or broker to turn to and most of them say they never did.  Most individual life insurance policies are sold by insurance agents and many Americans want to keep buying in this manner.  For instance, 60 percent of Baby Boomer households prefer to buy life insurance face-to-face.  Younger generations say they also are interested in gathering information about life insurance online and at their place of work.

“As an industry, we need to reach out to consumers and educate them about the various ways they can purchase life insurance,” said Mr. Kerzner of LIMRA.  ”Whether they buy from an agent, get coverage through their employer, or make an online purchase, the important thing is that they get the coverage they need to protect their loved ones.”

Added Mr. Feldman of the LIFE Foundation, “September is Life Insurance Awareness Month, the one time each year when the insurance industry comes together to remind Americans of the need to include life insurance in their financial plans. Hopefully, these findings will help us get people’s attention and serve as a wake-up call that now is the time to take action.”

For more information about Life Insurance Awareness Month, please visit www.lifehappens.org/liam.  To view the 2010 LIAM Fact Sheet and other resources, please visit LIMRA’s Web site at http://www.limra.com/LIAM/?Lang=EN&Region=NA.

About LIMRA

LIMRA is a worldwide research, consulting and professional development organization that helps more than 850 insurance and financial services companies in 73 countries increase their marketing and distribution effectiveness. Visit LIMRA atwww.limra.com.

About LIFE

The Life and Health Insurance Foundation for Education (LIFE) was founded in 1994 in response to the public’s growing need for information and education on life, health, disability and long-term care insurance. LIFE also seeks to remind people of the important role insurance professionals perform in helping families, businesses and individuals find the insurance products that best fit their needs. To learn more about these topics, please visit www.lifehappens.org.

Compare affordable term life insurance rates: http://www.wholesaleinsurance.net/

DENVER–(BUSINESS WIRE)–More than 78 million Baby Boomers will be entering retirement over the next 20 years,⁽¹⁾ and Social Security serves as the foundation of many of their retirement income plans. But there is a lot of confusion out there when it comes to maximizing benefits and calculating lifetime income.

“It’s the first of many new value-add campaigns Transamerica plans to introduce over the next few months. We recognize that now, more than ever, advisors are looking for this type of support to help address the most pressing concerns of clients.”

Transamerica’s “Unlocking Social Security” campaign eases that confusion, with a comprehensive and thorough guide for advisors and their clients. “Unlocking Social Security” gives advisors everything they need to start conversations with their clients, provide specific retirement advice tailored to a client’s needs, and ultimately help grow their business.

“’Unlocking Social Security’ is a program that was built to educate advisors and their clients,” says Blake Bostwick, Chief Operating Officer of Transamerica Capital, Inc. “It’s the first of many new value-add campaigns Transamerica plans to introduce over the next few months. We recognize that now, more than ever, advisors are looking for this type of support to help address the most pressing concerns of clients.”

The “Unlocking Social Security” program contains materials for individual advisor-client meetings as well as seminars, including:

5 Conversation Cards:
Divided into categories according to a client’s age, these conversation cards break down complex topics into key talking points.

Presentation:
Specifically for prospecting and educational purposes, the “Unlocking Social Security” Presentation addresses common questions and encourages further discussion.

Client Guide:
Offers a client sample questions to ask their advisor during a meeting to help them better understand their benefit options.

The “Unlocking Social Security” program is a necessary addition to an advisor’s practice. It gives non-product specific guidance to an advisor to help them educate their clients about a crucial part of their retirement income.

Financial Professionals may click here for more information.

Annuities issued by Transamerica Life Insurance Company in Cedar Rapids, Iowa and Transamerica Financial Life Insurance Company in Harrison, New York (Transamerica). Annuities are underwritten and distributed by Transamerica Capital, Inc.

Transamerica Financial Life Insurance Company is licensed in New York.

⁽¹⁾ U.S. Census Bureau. Population Reference Bureau. “Just How Many Boomers Are There”. [Online] U.S. Census Bureau, 2002. http://www.census.gov.

About Transamerica

Transamerica companies market an array of life insurance, annuities, retirement solutions and investments designed to help individuals, families, and businesses build, protect and preserve their assets. The Transamerica companies are members of the AEGON companies. For more information about Transamerica, visit www.transamerica.com.

About Transamerica Capital, Inc.

Transamerica Capital, Inc. is the underwriting and wholesaling broker/dealer for variable annuities issued by Transamerica Life Insurance Company and Transamerica Financial Life Insurance Company. All of these companies are AEGON companies. Transamerica Capital, Inc. works with financial professionals at wirehouse, regional, independent, and bank firms to provide a variety of insurance and investment solutions.

About AEGON N.V.

AEGON N.V., based in The Hague, The Netherlands, has life insurance, pension and investment businesses in over 20 markets in the Americas, Europe and Asia. AEGON companies employ approximately 28,000 people and have over 40 million customers across the globe. For more information about AEGON, visit www.aegon.com.

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A recent study by the Employee Benefit Research Institute (EBRI) found that nearly one-half of Baby Boomers and Generation Xers are at risk for not having enough savings to cover basic retirement living expenses(1). Personal finance resource Bills.com recommends creating more realistic and aggressive savings strategies to close this anticipated retirement cash gap.

“Pension plans and Social Security are no longer secure retirement options for most Americans — leaving many workers to fend for themselves in retirement,” said Ethan Ewing, president of Bills.com. “A healthy combination of budgeting, saving and leveraging of assets can turn most lean retirement budgets into nest eggs that will make it possible for retirees to realize the golden years they deserve.”

EBRI’s Retirement Readiness Rating™ discovered that because many Americans are living longer, saving less, and planning poorly for health care costs, most will not have enough money to pay basic living expenses throughout retirement. To help combat this troubling trend, Bills.com shared eight strategies for making the most of retirement.

1. Budget for Reality
It is easy to plan for retirement using suggested averages and advice from friends and family, but this can often fall short of what is required for an adequate nest egg. If you envision a luxurious retirement full of travel and free from money worries, then do your research. Understand the implications of inflation, taxes, and actual living costs. Do not underestimate how much money you’ll need after leaving the workforce.

2. Automate and Prioritize Savings
A common excuse offered to justify avoiding retirement contributions is “next year.” Enough “next years” will get you nowhere. It is imperative that you begin saving early and often. The power of compounding interest will make contributions in your twenties worth much more than the same investment in your forties. Automate savings so that you don’t have a choice. It is also imperative that parents put money into their retirement plan before funding a college savings program. You can always find loans for college, but not for retirement.

3. Eliminate Debt
One of the most important ways to enter retirement is debt free. Subtracting principal and interest payments from a fixed income is an easy way to expand debt instead of eliminating it. By paying off outstanding debt before you enter retirement, you can build a more accurate fixed budget and avoid the risk of falling behind or defaulting on payments.

4. Diversify Savings
There is no one magic investment vehicle for retirement savings. With a realistic retirement goal in mind, seek help from a variety of financial advisors to understand what options exist and which are best for your individual needs. Annuities, life insurance, 401(k) plans, and IRAs all present viable and unique options.

5. Play Catch Up
Older workers should take advantage of tax laws designed to help them save more money for retirement. Those workers who turn 50 in the calendar year and have met their maximum retirement contributions can make catch up contributions. For a traditional 401(k) plan, this can be an additional $5,500 in 2010 that is eligible for an employer match. Additional information is available on the IRS website.

6. Social Security Buy Back
If you are already retired or collecting Social Security, a little known strategy for collecting additional benefits is to cancel your current benefit level and then re-apply for greater benefits at a higher age. This is possible because the amount of benefits is calculated based on age — so the older you begin, the higher the monthly payout. In order to qualify, recipients must first pay back benefits they have received to date. For more information, visit the Social Security Administration website and download Social Security Form 521.

7. Leverage Your Assets
If you find yourself entering retirement without the cash reserves you’d hoped for but with some assets at your disposal, you can still enjoy a comfortable retirement. Individuals in search of cash who have a life insurance policy they no longer need can sell it in a life settlement. This can often return up to 300 percent of the cash surrender value on a policy(2). A reverse mortgage allows those 62 and older to receive monthly or a lump sum payment in return for the equity they’ve built up in their homes. For more information on a reverse mortgage visit the Bills.com Reverse Mortgage Center.

8. Consider a Second Career
While many people decide to work longer into retirement to save additional cash or delay tapping their nest eggs, many also look to second careers that are both personally and financially rewarding. A second career can be a good idea because you can match the demands and hours to supplement your retirement income, leaving you with both more free time and less financial stress. Examples of second careers can be working as a consultant, for a non-profit, or in a creative field such as writing.

Individuals with specific questions about retirement or how to best grow their next egg can use the Bills.com Ask Bill service to receive free, personalized answers to their questions.

About Bills.com

Bills.com is the leading resource for free and personalized money help. Founded by a group of financial experts committed to helping consumers save time, money and stress, Bills.com is designed to give consumers confidence in making money decisions. The site offers useful information, powerful tools, and real money experts to give consumers the information they need in the way they want it.

(1) Jack VanDerhei, The EBRI Retirement Readiness Rating™: Retirement Income Preparation and Future Prospects, July 2010, EBRI Issue Brief #344, Employee Benefit Research Institute

(2) Data Collection Report 2006, Life Settlement Association (LISA)

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NEWARK, N.J., Jul 27, 2010 (BUSINESS WIRE) — Women are more aware, engaged and actively involved in financial matters than ever before, according to the latest in a series of studies on women’s financial behaviors conducted by Prudential Financial, Inc. (PRU 55.76, +0.29, +0.52%) and announced today in partnership with the Women’s Media Center and The Paley Center for Media.

The 10th anniversary study, “Financial Experience & Behaviors Among Women,” revealed that 95 percent of women are involved in household financial decisions, with one-fourth acting as primary decision-makers. At the same time, however, two-thirds of women — 64 percent — say they have more work to do to secure their financial future.

“It’s clear that the more women know about money and finance, the more they understand what it’s going to take to meet their future financial needs,” said Christine Marcks, president of Prudential Retirement, a leading provider of 401(k) and other retirement plans. “But it’s disturbing that too few have plans in place to achieve their long-term financial and retirement goals.” The survey found just one-third of women have a detailed financial plan in place, and, among the youngest segment, (ages 25-34) just one in 10 has a financial plan in place. Women cite barriers to developing a detailed financial plan, including lack of time, the pull to meet shorter-term financial obligations, lack of knowledge and, for many, an unmet desire for assistance and help.

Despite the financial setbacks of the economic crisis and concern about continued volatility, more than half of the women surveyed remain optimistic about the country’s economic recovery, although more than 75 percent now plan to either work longer (56 percent) or wonder if they will be able to retire on time (20 percent).

The Prudential study involved a national sample of women who are sole or joint heads of households between the ages of 25 and 64. The group has household income of $50,000 or more. Nearly 60 percent are employed, nearly 75 percent have advanced degrees and half have financial assets of more than $100,000.

Although women are more involved in decision making, many still lack confidence in their ability to make sound financial decisions and lack knowledge about sophisticated financial products–a consistent trend over the course of the 10-year study. “Women’s understanding of basic financial products is strong,” said Lori High, president of Prudential’s Group Insurance business, the second-largest provider of corporate life and disability insurance plans. “Their knowledge of products such as annuities and long-term care insurance has deepened since we conducted our first research in 2000, but it continues to be limited.”

Underscoring this knowledge gap, fewer than two in 10 women feel “very prepared” to make wise financial decisions. Half indicate that they “need some help,” and one-third believe that they “need a lot of help.” Nearly nine in 10 of those who are looking for a lot of help need guidance on how to choose financial products that meet their needs.

“While the need for a trusted financial partner has never been greater, women are relying on informal personal networks for advice,” said Judy Rice, president of Prudential Investments, Prudential’s proprietary mutual fund business. “Building a financial plan requires expert assistance, so it is important that financial firms work hard to build trust and do a better job of encouraging women to find the time to establish realistic plans to meet their specific needs.”

The study was originally launched in 2000, and is updated every two years. For the 10th anniversary study, 1,250 American women were polled. The survey was administered from Feb. 10-26, 2010. The margin of error is ±2.9% at a 95% confidence level. Respondents were panelists in the Harris Interactive Poll Online. To download a copy of the study, visit http://www.prudential.com/women.

Prudential Financial, Inc. (PRU 55.76, +0.29, +0.52%), a financial services leader with approximately $693 billion of assets under management as of March 31, 2010, has operations in the United States, Asia, Europe, and Latin America. Prudential’s diverse and talented employees are committed to helping individual and institutional customers grow and protect their wealth through a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds, investment management, and real estate services. In the U.S., Prudential’s iconic Rock symbol has stood for strength, stability, expertise and innovation for more than a century. For more information, please visit www.news.prudential.com.

The Paley Center for Media, with locations in New York and Los Angeles, leads the discussion about the cultural, creative, and social significance of television, radio, and emerging platforms for the professional community and media-interested public. Drawing upon its curatorial expertise, an international collection, and close relationships with the leaders of the media community, the Paley Center examines the intersections between media and society. The general public can access the collection and participate in programs that explore and celebrate the creativity, the innovations, the personalities, and the leaders who are shaping media. Through the global programs of its Media Council and International Council, the Paley Center also serves as a neutral setting where media professionals can engage in discussion and debate about the evolving media landscape. Previously known as The Museum of Television & Radio, the Paley Center was founded in 1975 by William S. Paley, a pioneering innovator in the industry.

Women’s Media Center (WMC) makes women visible and powerful in the media. WMC works with the media to ensure that women’s stories are told and women’s voices are heard. They do this in three ways: through media advocacy campaigns; by creating their own media; and by training women to participate directly in media. WMC is directly engaged with the media at all levels to ensure that a diverse group of women is present in all forms of media: newsrooms, on air, in print, social media and online, as sources and subjects. The Women’s Media Center was founded in 2005 as a non-profit media organization by Jane Fonda, Robin Morgan, and Gloria Steinem. For more information on the Women’s Media Center, please visit: www.womensmediacenter.com.

SOURCE: Prudential Financial, Inc.

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