Products and Services Analysis Volume 2002–03 MacroMonitor


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The Consumer Financial Decisions (CFD) group's Products and Services Analysis Volume for the 2002–03 MacroMonitor program covers the full range of retail and institutional household financial products and services. The five major sections correspond to the five basic financial needs: transactions, savings and investments, credit, protection, and information and advice. Each section presents information about products and services that serve one of those basic financial needs. The product subsections provide key product statistics, executive summaries, and analysis of survey results using CFD's proprietary Age Cohort, Socioeconomic Level, and Life Stage segmentation schemes (see Appendix F for segment definitions). We include data from the 1998–99 and 2000–01 MacroMonitor, where comparable.



TABLE OF CONTENTS

Introduction i
 
Transaction Products  
Checking Accounts 1
  Non-Interest-Bearing Checking Accounts 7
  Interest-Bearing Checking Accounts 10
Other Accounts  
  Packaged Accounts 13
  Asset Management Accounts 19
  Stockbrokerage Accounts 23
Credit Cards and Payment Services 31
  Visa or MasterCard 41
    Regular Visa or MasterCard 45
    Premium Visa or MasterCard 49
  Discover Card 55
  American Express Blue and Optima 59
  Retail Cards 63
  Travel and Entertainment Cards 67
    American Express Cards 70
  ATM Cards 73
  Debit Cards 77
Direct Marketing 81
  Credit Cards 84
  Insurance Products 87
  Asset-Accumulation Products 93
  Other Credit Products 96
Automatic and Other Transaction 99
  Internet 107
  Internet Banking 113
  Internet Investing 119
  Other Internet Financial Services 125
 
Savings and Investments  
Savings Products 129
  Savings Accounts 135
  Certificates of Deposit 141
  Money Market Deposit Accounts 147
  Money Market Mutual Funds 153
  U.S. Savings Bonds 159
  Education Savings Accounts 165
  529 Plans 169
Investment Products 173
  Stock and Bond Mutual Funds 181
  Individual Stocks, Bonds, and Other Securities 195
  Wrap Accounts 203
  Margin Accounts 205
Retirement Products 207
  Individual Retirement Accounts and Simplified Employee Pensions 213
  Salary-Reduction Plans 221
  Keogh Accounts 229
  Individual Annuities 231
  Pensions 237
Illiquid Assets  
  Tangible Assets 241
  Businesses 247
  Primary Residence 251
  Other Real Estate 257
  Limited Partnerships 263
  Motor Vehicles 267
Personal Trusts 273
Custodial Accounts 279
Private Banking 285
 
Credit  
Real Estate Loans 289
  First-Mortgage Loans 295
  Second-Mortgage and Home-Equity Loans 303
  Home Equity Credit Lines 311
  Other Real Estate Loans 319
Consumer Credit 323
  Vehicle Loans 333
  Vehicle Leasing 339
  Installment Loans 343
  Other Secured Loans 349
  Education Loans 353
  Secured Credit LInes 359
  Unsecured Personal Loans 363
  All Other Credit LInes 367
  Revolved Credit Cards 371
 
Insurance Products  
Property and Casualty Insurance 377
  Vehicle Insurance 379
  Homeowner's or Renter's Insurance 385
  Mortgage Insurance 391
  Credit Insurance 395
Life Insurance 399
  Group Life Insurance 405
  Individual Life Insurance 411
    Term Life Insurance 419
    Whole (Straight) Life Insurance 425
    Universal, Variable, or Interest-Sensitive Life Insurance 431
  Policy Loans 435
Health and Disability Insurance  
  Health or Health-Related Insurance 439
    Group Health or Health-Related Insurance 446
    Individual Health or Health-Related Insurance 452
  Disability Insurance 459
    Group Disability Insurance 465
    Individual Disability Insurance 471
Other Insurance  
  Travel and Accident Insurance 475
  Professional and Regular Liability Insurance 478
  Accidental Death and Dismemberment Insurance 484
 
Information and Advice  
Information and Advice 489
  Financial Advisors 495
  Time, Trust, Control 499
 
Balance Sheets  
Assets 513
Liabilities 525
Net Worth 531
Insurance Products 535
Transaction Products 541
 
Appendixes  
A   MacroMonitor Survey Methodology A-1
B   Survey Weighting Procedures B-1
C   Sampling Tolerance Tables C-1
D   Calculated Variables D-1
E   Alphabetical Index—Table Locator E-1
F   Household Segment Definitions F-1