Best & Worst Annuity and Life Insurance Providers: J.D. Power, 2023
October 17, 2023 by Michael S. Fischer
Customer apathy toward annuities and life insurance is a perennial challenge for providers. Satisfaction is rising as more clients engage with digital tools and start using life insurance and annuities for financial planning, in addition to such final planning services as death benefits and burial insurance, according to a study released Thursday by J.D. Power.
“Sales of life insurance enjoyed a brief surge in popularity during the height of the pandemic, while sales of annuities have more recently soared,” Breanne Armstrong, director of insurance intelligence at J.D. Power, said in a statement. “But outside of that, customer satisfaction and engagement have generally declined the longer customers hold onto these products.”