Annuity Literacy: The Time Is Right
February 17, 2021 by Harry N. Stout
America has a financial and annuity literacy problem.
As reported in survey after survey, Americans score very low when asked about basic financial concepts. Building on the same theme, the annual LIMRA Insurance Barometer Study consistently reports low levels of understanding about the basics of annuity products.
As if these low knowledge levels were not enough, we are seeing conflicting messages in the financial media about annuity products. Should individuals hate annuities as the long running advertising campaign states? Should they love them?