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| [November 13, 2012] |
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ARAG's Generations Study Reports Legal Issues Affect All Ages, Yet Most Don't Have a Plan to Pay
DES MOINES, Iowa --(Business Wire)--
A new ARAG® study reports that Americans of all ages face
concerns when it comes to today's legal issues, although the biggest
concerns may differ by life stage.
"Our individual life stages and life styles may be different, but
personal concerns and experiences aren't defined by the birth date on a
driver's license," said David Murray, President and CEO of ARAG.
"Despite the generation gap, we care about the people and things that
are important in our personal lives and careers, and we want to see that
they're protected, including when it comes to legal issues."
The ARAG-commissioned study titled Legal Needs of Today's
Multi-Generational Population was conducted by RussellSM
Research in March 2012. The study identified legal concerns by
generation including the following:
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Generation Y - Marriage, children and rental issues
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Generation X - Children and custody matters
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Baby Boomers - Caregiving, death of a family member and home
contractor agreements
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Silent Generation - Home contractor and real estate transactions
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All Generations - Estate and financial planning, credit
problems and auto-related concerns
The Generations Study also found that only 25 percent of
Americans are prepared to handle the actual costs of legal issues, even
though three out of four Americans experienced at least one legal life
event in the past year.1 Additionally, Americans expect to
pay only $141 per hour for an attorney - less than half the average
attorney rate of $312.2
For more information on the Legal
Needs of Today's Multi-Generational Population, download the white
paper profiling the four generations available at ARAG's website (www.ARAGgroup.com).
1 "Measuring the effects of Employee Legal and Financial
Woes," conducted by Russell Research and commissioned by ARAG, March
2012.
2 Average attorney rates in the United States of $314 per
hour for attorneys with 11 to 15 years of experience, Survey of Law Firm
Economics, The National Law Journal and ALM Legal Intelligence, July
2011.
About ARAG
ARAG (www.ARAGgroup.com),
whose North American operations are based in Des Moines, IA, is a global
provider of legal solutions. The company has an international premium
base of nearly $2 billion and it protects 15.5 million individuals and
their families - worldwide. ARAG empowers individuals to protect their
families, finances and future by providing outstanding service and
meaningful relief for everyday legal issues.

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