LIMRA Study: Most Annuity Premium Used For Generating Income
December 19, 2017 by LIMRA
WINDSOR, Conn., Dec. 14, 2017—New analysis by LIMRA Secure Retirement Institute finds that half of the money ($84.5 billion) invested in annuities in 2016 was used to purchase products that offer guaranteed income – either immediately or for the future.
“Despite all of the news questioning whether Americans understand annuities, our analysis demonstrates that Americans are purchasing annuities to meet their specific investment objectives in retirement,” said Todd Giesing, director, Annuity Research, LIMRA Secure Retirement Institute. “Since Institute research shows the top financial goal of pre-retirees is to have enough money to last a lifetime, it stands to reason that the majority of the assets invested in annuities are targeted towards creating lifetime income.”