CNO Research

CNO Consumer Sentiment Survey: Economic Uncertainty Rises Among Middle-Income Americans

Agents and advisors report uncertainty is increasing as healthcare costs, inflation and broader economic pressures dominate customer conversations

A new survey from CNO Financial Group, Inc. (NYSE: CNO) reveals economic uncertainty is rising among middle-income Americans. The findings, based on direct conversations between more than 600 Bankers Life agents and advisors and their customers, show that rising fixed costs—especially healthcare—are altering how middle-income Americans think about retirement, coverage and financial security.

Negative economic sentiment and rising uncertainty are defining customer conversations across the country. Agents and advisors report that most middle-income consumers they speak with have a negative view of the U.S. economy, with three in five (57%) saying they hear negative sentiment from customers and only 7% hearing positive sentiment. Two-thirds (68%) of agents and advisors report that customers feel more uncertain today than they did three to six months ago, while only 5% say customers feel better about the economy.

These findings build on CNO’s Retirement Confidence Survey released in February 2026, which found that one in three (32%) middle-income Americans ages 50 to 85 felt less confident in their retirement plans than they did a year earlier.

“Our agents and advisors meet face-to-face with thousands of middle-income Americans each week, and what they’re hearing is consistent—rising economic uncertainty and concerns around healthcare and inflation are directly impacting their retirement decisions,” said Scott Goldberg, President, Consumer Division. “When navigating today’s environment, the first step for consumers is ensuring their financial plans reflect current economic realities and align with their retirement goals. We encourage working with a trusted financial professional to help review whether retirement plans can withstand inflation and provide the right mix of health and financial protection.”

Healthcare and Inflation Lead Customer Concerns

Concerns over rising fixed costs, especially healthcare, are frequently raised by middle-income Americans in advisor conversations. Agents and advisors report that healthcare costs (73%) and inflation (71%) are the top two concerns raised unprompted by customers over the past 30 days, underscoring how top-of-mind these pressures are in everyday financial decisions. Two in five (44%) say customers have raised concerns regarding reductions to Medicare benefits.

More than half of agents and advisors report that customers have raised concerns about market volatility/investment losses (59%) and global conflict (57%), reinforcing broader economic unease.

Economic Unease Reshaping Retirement Plans

Economic concerns are translating into real behavior changes for middle-income Americans, particularly around retirement decisions. More than half (55%) of agents and advisors report that customers they spoke with are considering delaying retirement or planning to work longer.

Agents and advisors also report many middle-income Americans are taking a cautious “wait-and-see” approach to financial decisions (36%), while others are considering re-entering the workforce or taking on part-time work (28%).

Survey Methodology

CNO’s Consumer Sentiment Survey was conducted from April 10 – 17, 2026. Results represent feedback from 662 Bankers Life agents and advisors who held 20-500 conversations with middle-income customers and prospects within the previous 30 days.

For complete survey methodology, please contact Mike Romor, Manager, External Communications.