Survey: Product innovation surging across lifetime income market
December 16, 2015 by LIFEHEALTHPRO EDITORS
WASHINGTON, D.C. – The Insured Retirement Institute (IRI) today released a new report detailing how ongoing product innovation will help support continued demand for lifetime income in the years ahead.
In its annual State of the Insured Retirement Industry report, IRI notes that ongoing product development is creating a wide array of consumer choice regarding lifetime income products, allowing advisors to create retirement plans that better meet the needs of their clients. These product development efforts include new launches of Investment-Oriented Variable Annuities (IOVAs), new product designs of Fixed Indexed Annuities (FIAs), and the introduction of new Deferred Income Annuities (DIAs) that meet Qualifying Longevity Annuity Contract (QLAC) criteria.