Demand Is High for Annuities as Client Needs for Guaranteed Retirement Income Grow
October 1, 2024 by Matt DiGangi
MassMutual Head of Annuity Distribution Matt DiGangi recently sat down with VettaFi to discuss the increasing demand he is seeing for annuities, and how MassMutual has sought to meet client investor needs.
LIMRA released a report that finds U.S. annuity sales have set a record for the first half of 2024. To what do you attribute this?
There are several factors driving the increase in annuity sales. First, regarding demographic trends, baby boomers are retiring. In addition, the industry has done a good job integrating annuity solutions into the retirement income planning process and into tools that advisors use with clients, making it more seamless as a solution within a larger overall financial portfolio. The last piece is consumer education and awareness — which have definitely gone up — about the value that annuity solutions can provide.
Wink’s Moore on the Market: “Annuities can be a very impactful piece of one’s retirement income puzzle.”
My friend, Wade Pfau with The American College of Financial Services, is dropping some knowledge.
Check it out: -sjm
