New Research Reveals Disconnect Between Consumer and Advisor Perceptions in Social Security Planning

Protective and Greenwald Research uncover critical insights to help financial professionals bridge the Social Security planning communication gap

BIRMINGHAM, Ala.--(BUSINESS WIRE)--Protective Life Corporation a U.S. subsidiary of Dai-ichi Life Holdings, Inc. (TSE:8750), today announced the release of a new whitepaper based on proprietary research conducted by its principal subsidiary Protective Life Insurance Company (“Protective”) in partnership with Greenwald Research. The findings reveal a surprising emotional divide between consumers and financial professionals when it comes to planning for Social Security—one that could significantly influence how financial professionals approach retirement income conversations.

The research, conducted in fall 2024 and based on surveys of 1,000 consumers and 500 financial professionals, is summarized in the white paper titled “4 key steps to make Social Security planning more effective.” It highlights a notable misalignment in perceptions: while consumers often associate Social Security planning with feelings of “security,” “optimism” and “hope,” financial professionals tend to perceive their clients as feeling “confusion,” “skepticism” and “anxiety.”

"This disconnect represents an opportunity for financial professionals," said Aaron Seurkamp, SVP and President, Protection & Retirement Division at Protective. "By commissioning this research, Protective remains committed to empowering financial professionals with the tools they need to proactively address retirement concerns and deliver more comprehensive financial solutions."

The research also found that nearly one-third of consumers who have not yet claimed Social Security are unsure when they will do so, underscoring the need for proactive guidance. The white paper offers practical guidance for financial professionals, including when to initiate Social Security planning discussions, how to form and communicate personalized claiming strategies and how to bridge income gaps to help clients maximize their benefits.

Protective’s goal in commissioning this research is to equip financial professionals with the insights they need to better serve their clients, particularly in an era of heightened attention to the future of Social Security.

Financial professionals seeking deeper insights into the findings are invited to visit our secure portal to explore the full study and access the whitepaper. For immediate access, the whitepaper is also available for direct download here.

About Protective

Protective Life Corporation has helped people achieve protection and security in their lives for 118 years. Through its subsidiaries, Protective offers life insurance, annuity, asset protection and employee benefit solutions and is helping more than 16.4 million people protect what matters most. Protective’s more than 3,500 employees put people first and deliver on the company’s promises to customers, partners, colleagues and communities - because we’re all protectors. With a long-term focus, financial stability and commitment to doing the right thing, Protective Life Corporation, a subsidiary of Dai-ichi Life Holdings, Inc., has $125 billion in assets, as of Dec. 31, 2024. Protective is headquartered in Birmingham, Alabama, and is supported by a robust virtual workforce and core sites in the greater Cincinnati area, St. Louis and Garden City, N.Y. For more information about Protective, visit protective.com.

About Greenwald Research

Greenwald Research is a consultative partner to health and wealth leaders that leverages industry expertise, access to experts, and a custom, collaborative approach to produce trusted insights and meaningful connections that drive understanding and inform strategic action. For more information, please call [phone] or visit www.greenwaldresearch.com.