The numbers aren't too far apart, but saving for emergencies isa high priority to more middle-class African Americans than itis to the rest of the middle class, according to a new surveyfrom Limra.

Seventy-four percent of the African Americans Limrasurveyed consider “saving for an emergency fund” mostimportant compared to 62 percent of the middle market as awhole.

Along the same lines, according to an HSBC study releasedthis week, 81 of Americans say paying down their debts andsaving for education and rainy-day funds take precedence.

Limra, meanwhile, said it was able to identify an investmentvehicle that appears especially popular among the blackmiddle-class.

Six in 10 middle-class African Americans own at least oneindividual life insurance policy, compared to 46 percent of therest of the middle-class.

And they plan to buy more. Limra’s data shows half of theAfrican Americans that don’t own a policy say they plan to buy onein the next 12 months, and one-third of existing policyholders saythey will add more protection in the next year.

See also: Minorities ill-prepared for retirement

That’s considerably more enthusiasm for life insurance than withthe rest of the individual market; only 29 percent of the generalmiddle-class expects to buy policies in the next year.

Exactly why that is isn’t exactly clear from Limra’s study. Theinsurance and financial services trade association says thatAfrican Americans make up about 12 percent of the country’smiddle-class.

The black middle-class is a growing financial power in thecountry. Four in 10 African American households have an annualincome of $75,000 or more, and a quarter earn sixfigures. African Americans make up 12 percent of the 52million households in the middle market, Limra said.

Yet as the demographic’s purchasing power has grown, its favorfor retirement products like IRAs and mutual funds lags.

A Prudential study of African Americans shows they are only half aslikely to own investment products, reflecting a trend toward savingrather than investing.

Half of African Americans have access to a workplace retirementsavings plan, comparable with the country overall, and eight in 10who are eligible to contribute do so.

Yet Prudential’s study found more African Americans tend tocontribute less than their employer match compared to otherdemographics, and they take loans from their plans at higherrates.

The average account balances in employer-sponsored plans is$9,000 among African Americans, compared to $20,000 with thegeneral population.

That could all be a function of outreach from the financialservices industry — or a lack of it. Only 25percent of African Americans said they feel the financial industryhas effectively reached out to their community, the Prudentialstudy said.

The numbers back their intuition. African Americans are 13percent less likely than the general population to have receivedcontact from a financial advisor.

See also: Congress urges DOL to consider minorities in fiduciarydefinition