July 13, 20 - 9:49 am - LABS

8 out of 10 Latin Americans have taken steps to preserve personal finances in the pandemic

According to a research commissioned by MetLife, a multinational group of financial and insurance services, and carried out by Instituto Ipsos, Latin Americans are saving more money or better planning their financial activities with the aim of protecting their families during the Covid-19 pandemic and having a safer future financially.

In Mexico, 80% of respondents are being more financially cautious; in Brazil 79%, in Colombia 77%; and in Argentina 62%. Among the actions mentioned are saving more money or investing, maintaining or contracting life and health insurance policies, among other financial solutions.

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“Covid-19 accelerated people’s strategies and perspectives in saving money and thinking even more about the care, well-being and future of their families. The study proves that, more than ever, actions such as thinking about financial planning and putting life insurance solutions as a priority have been adopted by the world population and, in Brazil, this movement is no different”, says Raphael de Carvalho, CEO of MetLife in Brazil and Colombia, in a report published by Valor Investe.

In addition, the study found that 69% of Brazilians intend to save money or invest in the coming weeks. This percentage drops to 67% in Mexico, 66% in Colombia and drops further to 51% in Argentina.