New Philanthropy Survey Shows Americans Over Age 50 Most Likely To Volunteer Time And Money
The Hartford marks 25-Year AARP relationship with charitable gifts on
behalf of 25 longest-tenured policyholders
HARTFORD, Conn., Aug 19, 2009 (BUSINESS WIRE) -- The Hartford Financial Services Group, Inc. (NYSE: HIG), in commemoration of the 25th anniversary of its industry-leading AARP(R)-branded auto and home insurance program, today announced the results of a new volunteerism and charitable gift survey among the 50+ population. The new research reveals key insights into the leading causes supported by consumers and how support may vary by age and AARP membership.
The survey, conducted earlier this summer, found the following:
- As a group, 53 percent of consumers age 50+ participate in volunteer work.
- Seventy-six percent of those age 50+ provide monetary donations to causes they support.
- Causes most favored by those 50+ include Alzheimer's disease, social services, the environment and military support.
- Of the AARP members within that group, nearly 83 percent chose to give monetary donations to charitable causes.
"We are very proud of our 25-year relationship with AARP and are humbled by the thousands of customers that have remained with us since the program began in 1984," said Michael Concannon, senior vice president, The Hartford. "Much of the success of this program is because of our innovative approach and commitment to truly understand our customers. In celebration of this milestone, we wanted to do something special for some of our first, most loyal customers and the causes they support."
The Hartford is committed to building strong communities, supporting organizations through direct grants, employee volunteerism and educational outreach. Based on the findings of the survey and in honor of the 25th anniversary, The Hartford will make a $1,000 charitable gift in the name of each of our 25 longest-tenured AARP policyholders to their choice of one of the following nonprofit organizations:
- Alzheimer's Association
- Boys and Girls Clubs of America
- Feeding America (formerly America's Second Harvest)
- The Nature Conservancy
- Wounded Warrior Project
Other key findings of the Philanthropic Giving Survey:
- AARP members are almost twice as likely as non-members to provide monetary support to Alzheimer's, cancer, heart disease, family and child services, education and environment conservation organizations.
- Of those who volunteer, almost 14 percent of AARP members volunteer one day per week as compared to 7.5 percent of non-AARP members.
- Roughly half of consumers of all ages support causes through volunteer work and almost 70 percent through monetary donation.
- Thirty-eight percent of consumers of all ages donate money to health organizations; almost 32 percent support social service organizations.
- Of those who volunteer, frequency of that support varies with more than 11 percent volunteering 2-4 days per month and 10 percent volunteering 1 day per week.
- Those surveyed age 50 and older are more than twice as likely to provide monetary support to Alzheimer's, military support, and adult 50+ organizations, as well as museums and heritage sites.
- Of those surveyed age 49 and younger, 45 percent volunteer their time and just over 60 percent donate money to charities.
The survey, fielded on July 10, 2009, was conducted by TNS as part of their weekly interactive omnibus study that takes advantage of the 1.2 million pre-recruited online households that are part of the TNS access panel. This study consists of a managed access panel of 1,000 consumers representative of the U.S. household population 18+ on age, gender, geographic division, income, household size, household designation and markets size.
About The Hartford
Celebrating nearly 200 years, The Hartford (NYSE: HIG) is an insurance-based financial services company that serves households, businesses and employees by helping to protect their assets and income from risks, and by managing wealth and retirement needs. A Fortune 500 company, The Hartford is recognized widely for its service expertise and as one of the world's most ethical companies. More information on the company and its financial performance is available at www.thehartford.com.
About AARP Financial, Inc.
Founded in 2005, AARP Financial Inc. is a wholly owned taxable subsidiary of AARP, dedicated to helping people prepare for a more secure financial future by providing access to products and services designed to help meet their retirement needs and supporting them with clear information and guidance. It provides access to a carefully chosen array of investment products and guidance, including mutual funds, made available through AARP Financial, designed to meet the needs of investors at any life stage. AARP Financial also manages provider relationships and performs quality control oversight for a wide-range of products that carry the AARP name and are made available as AARP member benefits, by independent providers. These AARP member benefits include auto and home insurance through The Hartford; credit cards through Chase; life insurance and lifetime income annuities through New York Life; and mobile home and motorcycle insurance through Foremost. Please visit us at www.aarpfinancial.com for more information.
About AARP
AARP is a nonprofit, nonpartisan membership organization that helps people 50+ have independence, choice and control in ways that are beneficial and affordable to them and society as a whole. AARP does not endorse candidates for public office or make contributions to either political campaigns or candidates. We produce AARP The Magazine, the definitive voice for 50+ Americans and the world's largest-circulation magazine with over 34.5 million readers; AARP Bulletin, the go-to news source for AARP's 40 million members and Americans 50+; AARP Segunda Juventud, the only bilingual U.S. publication dedicated exclusively to the 50+ Hispanic community; and our website, AARP.org. AARP Foundation is an affiliated charity that provides security, protection, and empowerment to older persons in need with support from thousands of volunteers, donors, and sponsors. We have staffed offices in all 50 states, the District of Columbia, Puerto Rico, and the U.S. Virgin Islands.
HIG-PC
Some of the statements in this release may be considered forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. We caution investors that these forward-looking statements are not guarantees of future performance, and actual results may differ materially. Investors should consider the important risks and uncertainties that may cause actual results to differ. These important risks and uncertainties include those discussed in our Quarterly Reports on Form 10-Q, our 2008 Annual Report on Form 10-K and the other filings we make with the Securities and Exchange Commission. We assume no obligation to update this release, which speaks as of the date issued.
SOURCE: The Hartford Financial Services Group, Inc.
The Hartford Financial Services Group, Inc.
Michelle Loxton, 860-547-7413
Michelle.loxton@thehartford.com
or
Thomas Hambrick, 860-547-9746
Thomas.hambrick@thehartford.com
Copyright Business Wire 2009