Annuity Sales Increase As Consumer Awareness of Their Value Does

It's no coincidence that annuity awareness and sales are growing at the same time. Lack of awareness and misinformation have really been the factors keeping people away from annuities despite the fact that annuity benefits match up with personal finance goals. In a recent LifeHealthPro article, "Both annuity awareness, sales growing," Peggy Bresnick discussed the trend. Although only 22% of Americans are very confident that they will have enough money for a comfortable retirement, that figure... Read More

Expert Says Effects from Fiduciary Rule Will Be Devastating for Annuities

The upcoming Presidential election has the country divided politically, both in party and between Republicans and Democrats. There is a similar division in the financial industry over the Department of Labor's impending fiduciary rule. In the Insurance News Net article "The Commission Conundrum: How Are UK Consumers Doing?", Kim O'Brien looked at the current situation in the UK after a similar rule took effect back in 2013. O'Brien is currently the vice chairman and CEO of Americans for Annuity... Read More

Annuity Information Abounds Online

There is a wealth of information online to support people interested in purchasing annuity products, as well as the brokers and advisors who sell them. In this advanced technological time, online tools are crucial to the annuity industry and help overall annuity sales. In "Online tools, information, research support annuity sales," LifeHealthPro's Peggy Bresnick gathered a list of some of the most important sites available for this type of research. These online resources can help explain the... Read More

What Did NAFA Have to Say About Senator Warren Questioning Annuities?

U.S. Senator Elizabeth Warren recently questioned the ethics of annuity sales by sending letters to fifteen of the top annuity providers.  Her concern lies with the incentives offered to insurance agents for selling annuity contracts.  She is calling for a rule that ensures retirement advisors do not have a conflict-of-interest when selling annuities.  Unfortunately, her public outcry shines light on the very small percent of unethical annuity sales practices.  The majority of annuities are... Read More

NAFA Says That Fixed Annuities Are Simple, Offer Benefits Beyond Interest Rates

It's really the responsibility of the annuity industry to proactively spread information about annuity products.  There is a lot of negative information in the public, some of it warranted, some of it not.  Naysayers say that annuities cost too much, are complicated and lack flexibility if your needs change.  This is not the case for most annuity products, but unless the annuity industry works to educate the public on annuity truths, they will continue to hear the negative people loudly. ... Read More

NAFA Calls 2014 “The Year of the Fixed Annuity”

The National Association for Fixed Annuities (NAFA) has declared 2014 "The Year of the Fixed Annuity" in an article for their Annuity Outlook Magazine.  Their president, Kim O'Brien, likened the outlook for fixed annuities to the Chinese New Year calendar character, the Horse.  2014 is the year of the Horse in Chinese tradition, symbolizing constant effort to improve.  O'Brien says that the fixed annuity industry does just that by trying to improve peoples' lives through annuity guarantees,... Read More

Fixed Annuity Industry’s Biggest Challenge is Misperception

The National Association for Fixed Annuities (NAFA) held a contest last month celebrating their 15th anniversary.  They asked members to answer two crucial questions regarding the fixed annuity industry.  It was a contest to encourage more responses from their members, whose time is valuable.  In NAFA Member Insights on Industry Challenges & Solutions, Kim O'Brien gives the questions and the winning member responses.  NAFA members represent more than 85% of the independent fixed annuity... Read More

3rd Quarter Indexed Annuity Sales Increase 15% from Last Year

NAFA's Annuity Outlook Magazine recently published the article "Indexed Annuity Sales Break Second Consecutive Sales Record" detailing this year's third quarter sales results.  Information was collected by Wink, Inc. and put forth in Wink's Sales & Market Report.  Indexed annuities have continued monumental growth, while other products have suffered.  The information was collected from 42 companies selling indexed annuities, who account for more than 98% of overall indexed annuity... Read More

NAFA Clarifies Annuity Info In Response Letter

Late last month, I wrote a blog about Bob Carlson's article comparing bonds to immediate annuities.  While Carlson concluded that the annuity products are likely a better choice than the bonds, the National Association for Fixed Annuities (NAFA) thought that more information was necessary.  NAFA issued a response letter to Mr. Carlson's article, "Comparing Annuities to Bonds," which highlights three aspects of immediate annuities that they would like to expand upon.  In the letter, NAFA... Read More

2013 Trends for Annuities as a Whole

This blog is, in essence, a continuation of yesterday's blog on what to expect in variable annuity trends for 2013.  But this entry deals with the annuity industry as a whole and what we think will be happening next year.  Producer's Web published a Life Health Pro article, "Annuities: 5 things to expect in 2013," where Maria Wood gives us some hints at changes to come.  Some of the changes I talked about that are likely in store for variable annuities will effect all annuities, while others... Read More

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