Disrupting the Most Hated Financial Product in the World

Not so long ago, we published an explainer video to help us raise development capital. The sources, volume & enthusiastic nature of responses over social media were initially confusing until we realised viewers were actually trying to buy the financial product described in the video over social media!

This was spectacularly significant for a number of reasons. Pension industry research shows that 84% of retirees want a financial product that protects them from outliving their savings.

Bank research further confirms that consumers top concerns are i) lifetime income streams, ii) that can maintain their lifestyles and iii) which cover health care costs. Yet, only** 14% of retirees** actually buy the insurance industry product targeted at addressing these top concerns.

There is a major factor at play why only 1 in 6 prospective buyers buy what incumbents are offering, this is because the existing solution is universally regarded as:

“the most hated financial product in the world”

Even so, total sales of this hated product total about $350 billion per year!

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