Get The Framing Right And Consumers Love Annuities
October 31, 2018 by John Hilton
NEW YORK — When LIMRA Secure Retirement Institute researchers quizzed survey respondents on how big the lump sum would have to be to forgo a monthly guaranteed income option – they were surprised by the results.
Respondents were told hypothetically how the lifetime income option – an annuity – works before answering.
“It turns out almost half the people said they would not switch no matter how much was offered to them,” said Matthew Drinkwater, director of LIMRA SRI. “We were really struck by that.”