Based on new data released by LIMRA regarding life insurance sales in 2014, the market for annuities is particularly hot. Increased annuity sales demonstrate that consumers are more conscious of how life insurance products can factor into their retirement planning strategy, but there are still signs that financial professionals need to market certain products more aggressively.
The sale of indexed annuities, one of the more popular long-term savings products lately, has now seen eight straight years of growth.
As a financial producer, you’re aware that one of the main concerns of your clients is how to efficiently and responsibly pass on their wealth, whether it’s to younger siblings, children or even grandchildren. While there are numerous ways your clients can leave inheritances, certain methods create more burdens than your clients would prefer.
Retirement concerns affect many Americans, including a large portion of high net worth consumers. Many less-affluent individuals are concerned about outliving their retirement savings. This is not a pressing concern for high net worth consumers, but they have their own financial concerns to contend with.
Insurance industry professionals agree: The 2015 life insurance and annuity industry started off on the right foot. Both Deloitte and Ernst & Young released positive outlooks for this year’s life insurance and annuities industry based on improved market conditions and consumer confidence.
There’s a good chance many of your clients are experiencing worry over retirement. Such a significant life transition is bound to come with feelings of apprehension, and it’s typically the financial side of things that gives clients the most pause.
As people are living longer and healthier lives, the insurance industry has had to adjust to provide products that help people manage their wealth for longer periods of time. In some cases, people are worried about outliving their incomes, while others, who are confident their savings will last through their lifetimes, are interested in finding the most advantageous investment strategies for their wealth.