Why annuities are growing in popularity
December 17, 2024 by MassMutual Strategic Distributors
Annuities are increasingly popular among Americans seeking guaranteed retirement incomes. To learn what’s driving sales, who’s buying them and what types are available, SmartBrief discussed the market with Matt DiGangi, who heads MassMutual Strategic Distributors’ annuity distribution.
SmartBrief: This year has seen record sales in annuities in the US. What do you think are key drivers of that trend?
Matt DiGangi: There are several factors contributing to the rise in annuity sales. Firstly, demographic trends play a significant role, with baby boomers entering retirement. Additionally, the industry has effectively integrated annuity solutions into the retirement income planning process and the tools that advisors use with clients, making it a more seamless solution within a larger financial portfolio. Lastly, consumer education and awareness about the value of annuity solutions have definitely increased.
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