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Americans Lack Understanding of How Annuities Guarantee Lifetime Income

TIAA found that many Americans are unprepared for retirement in their 2016 Lifetime Income Survey. They have false confidence in where their retirement savings will take them and are not aware of the annuity products that could secure their financial safety in retirement. In the Plan Adviser article "Many Have Unrealistic Expectations for Retirement Savings," Karen Wittwer talked about the results of TIAA's survey of 1,000 adult Americans. They certainly aren't the first researchers to find... Read More

Variable Annuity Decline Shuffles Annuity Sales Leaders

The LIMRA Secure Retirement Institute just published their quarterly annuity sales report detailing the "Top 10 annuity sales leaders" from the first quarter. In an article for LifeHealthPro, Kristen Beckman listed the top sellers and discussed the big power shift between fixed and variable annuities. Their data includes information from 64 companies who make up 96% of all annuity sales. Total annuity sales were $59 billion in the first quarter. Fixed annuity sales of $32.3 billion were higher... 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

Low Cost Annuity Options Beat 401k Plans, According to TIAA-CREF’s CEO

TIAA-CREF's CEO, Roger Ferguson, says that low cost annuities are better in many ways than 401k's. The company provides retirement services to more than 5 million people at different types of nonprofit organizations. He believes that annuities are the solution to America's retirement crisis because employees need a guaranteed income source when they stop working. In "Tips for Retirement Saving from TIAA-CREF'S Roger Ferguson," an article for Bloomberg Businessweek, Carol Hymowitz interviewed... Read More

Jackson National, AIG Led Second Quarter Annuity Sales

The LIMRA Secure Retirement Institute recently collected annuity sales data for their quarterly U.S. Individual Annuities Sales Survey. This information came from Investment News's article "Top 10 annuity sellers in the second quarter." Here is a summary of the second quarter sales figures before third quarter results are announced. Annuity sales increased between the first and second quarters of this year. During the second quarter, total annuity sales were $60.2 billion. This was 10% higher... Read More

Annuity Benefits Match Consumer Wants, But Education Is Needed

TIAA-CREF conducted a survey earlier this year of 1,000 Americans called the 2015 Lifetime Income Survey.  Insurance News Net's Linda Koco summarized the recently released findings in the article "People Want Lifetime Income But Don't Know Annuities."  Having guaranteed monthly income in retirement is important to 84% of those surveyed, but only 14% have bought an annuity to secure that income.  Aside from a pension, which most people don't have, and Social Security, which is rarely enough... Read More

Top Annuity Sellers for the 3rd Quarter

Third quarter annuity sales results were released last month.  LIMRA has released multiple reports detailing the annuity sales totals and the companies selling the most annuity products.  During the third quarter of 2014, annuity sales totaled $58.2 billion.  This total was a 2% decline from the first quarter of 2013.  The total for the first three quarters of this year was $177.7 billion, which is 6% higher than annuity sales during the first nine months of last year.  The variable... Read More

Jackson National Is The Variable Annuity Sales Leader

A lot of the players in the variable annuity game have scaled back their business.  This leaves opportunity for those insurers who are still interested in selling variable annuity products.  Jackson National Life is one of the companies who is taking advantage of this variable annuity exit by other insurers.  In the Bloomberg News article "Jackson National Takes Big Lead On Variable Annuities As Rivals Scale Back" posted by Financial Advisor Magazine, it says that Jackson National is still... Read More

Jackson National & New York Life Sold the Most Annuities In 2013

The total annuity sales for 2013 were released last month and included some surprises and some results that were expected.  Daniel Williams of LifeHealthPro summarized all of the sales results in the article "Top 20 annuity sales leaders for 2013".  The results are divided into total annuity sales, fixed annuity sales, and variable annuity sales.  Jackson National Life was the top seller in both total annuity sales and variable annuity sales.  They sold $23.2 billion of annuities, $20.9... Read More

Create A Retirement Income Stream By Laddering Annuities

Most people seem to be well aware of bond ladders, but not as many know about annuity ladders.  Annuity ladders are a good idea for many reasons.  One is that the older you are, the better deal you get on your annuity.  With each successive annuity purchase, your age has increased and, therefore, your return.  In Bankrate's recent article, "Building an annuity ladder," Jennie L. Phipps gives an example of a good way to structure your annuity ladder when planning for your future.  We talk... Read More

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