State Of The Insured Retirement Industry
July 29, 2020 by Insured Retirement Institute
The annuity industry is poised for significant growth in the coming years. Consumers are concerned about retirement risks and outliving savings, uncertain how to use retirement account balances to create sustainable lifetime income and are worried about potential Social Security insolvency and rising medical costs. These factors are putting insured retirement income squarely on the radar of retirement savers and financial advisors
Today, too few Americans are using, or are even aware of, annuities, and too few are consulting with financial professionals regarding their retirement needs, wants, and aspirations. Evidence abounds that annuities and advisors improve outcomes. The insured retirement industry is focused on improving technologies that enable seamless inclusion of annuities in retirement portfolios. It is focused on promoting legislation that encourages and empowers Americans to save for retirement. And it is focused on getting the message to consumers that guaranteed income and protection from market downturns are valuable aspects of annuities that can help them live their best lives in retirement.