Grandparents Are Providing $370.7 Billion in Financial Support to Their Grandchildren, According to MetLife Mature Market Institute Survey

Economic Downturn Has Spurred Giving
WESTPORT, Conn.--(Business Wire)--
Almost two-thirds of America`s grandparents have provided financial support to
their grandchildren during the last five years, 40% for general purposes and 26%
for education, according to the MetLife Mature Market Institute`s QuickPOLL,
Grandparents: Generous with Money, Not with Advice. The average amount provided
was $8,661, or about $370.7 billion total in the last five years. One-quarter
(25%) say the economic downturn has caused them to increase the help they give
to their grandchildren.

The 2009Grandparents Poll revealed that grandparents prefer to help their
children and grandchildren while they are alive, rather than leaving a lump sum
in a will, an interesting phenomenon.

In addition, the data indicates that those with less income and net worth are
giving a higher percentage than they did before the most recent economic
downturn - and some of them are feeling the pinch, with more than one in five
(22%) overall reporting that their generosity has had a negative impact on their
own financial picture.

"The survey points to the universal bond between grandparents and their
grandchildren, and the generous nature of grandparents, regardless of asset and
income levels," said Sandra Timmermann, Ed.D, director of the MetLife Mature
Market Institute. "Grandparents are more willing than ever to help their
grandchildren, even though they may be suffering economically. While they
clearly want to make sure their grandchildren are financially secure, only a
small percentage of those polled said they have talked to their grandchildren
about the importance of hard work, saving for a rainy day and intelligent use of
credit."

Other information learned from the 2009 Grandparents Poll includes the
following:

* Of the minority who do impart advice to their grandchildren, the most common
missives are to save and invest early (85%) and to stay out of debt (75%).
* Those grandparents with at least a college degree are more likely to support
education (37% vs. 24% of those without a college education).
* Nearly half of education supporters (46%) set up a college fund; 26% are
paying for pre-college expenses and 24% help with college tuition or loans.
* 83% are giving cash; in-kind gifts like cars and computers rank second.
* Half of those polled (52%) say their children are raising their grandchildren
differently than they raised their kids. Of that group, 64% say their kids are
more lenient with their children than they were and 55% said the youngest group
has fewer household responsibilities.
* 30% of those polled have encouraged or have spoken to their adult children
about life insurance as a way to protect the future of their grandchildren.
* The majority (78%) say it`s more important to distribute smaller gifts
throughout their lifetimes as needed, rather than leaving a larger sum of money
as a legacy at death.

"Like grandparents in earlier generations, today's grandparents want to be
involved in their grandchildren's lives. What may be different today is that
grandparents are helping their children and grandchildren to meet immediate
financial needs," said Dr. Timmermann. "Grandparents with the financial
resources will want to make more long range plans too, assuring that their
grandchildren have enough money to fund college tuition and that the family has
the financial security should something happen to one or both parents.
Grandparents are also in a unique position to provide another valuable legacy,
that of helping grandchildren to understand the value of a dollar and the
importance of saving money."

Methodology

The 2009 Grandparents Poll was conducted by Harris Interactive in May 2009 via
its QuickQuerySM online omnibus service. Participants included 1,077 U.S. adults
age 45 and older who have grandchildren age 25 or younger. Data were weighted to
be representative of the total U.S. population on the basis of age, gender,
race/ethnicity, education, region, household income and the propensity to be
online.

The MetLife Mature Market Institute

Established in 1997, the Mature Market Institute (MMI) is MetLife`s research
organization and a recognized thought leader on the multi-dimensional and
multi-generational issues of aging and longevity. MMI`s groundbreaking research,
gerontology expertise, national partnerships, and educational materials work to
expand the knowledge and choices for those in, approaching, or caring for those
in the mature market.

MMI supports MetLife`s long-standing commitment to identifying emerging issues
and innovative solutions for the challenges of life. MetLife, a subsidiary of
MetLife, Inc. (NYSE: MET), a leading provider of insurance, employee benefits
and financial services with operations throughout the United States and the
Latin American, Europe and Asia Pacific regions.

For more information about the MetLife Mature Market Institute, please visit:
www.maturemarketinstitute.com.

Grandparents: Generous with Money, Not with Advice can be downloaded from
www.maturemarketinstitute.com under "What`s New." It can also be ordered by
e-mailing, maturemarketinstitute@metlife.com, or by writing to: MetLife Mature
Market Institute, 57 Greens Farms Road, Westport, CT 06880.

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DJC Communications
Debra Caruso, 212-907-0051
debra@djccommunications.com
or
MetLife
Shalana Morris, 212-578-1115
snmorris@metlife.com
Joseph Madden, 212-578-3021
jmadden@metlife.com

Copyright Business Wire 2009