June is National Annuities Awareness Month

Jun 23, 2020 Share This 

 

Annuity_AwarenessNational Annuity Awareness month is a great time to introduce and discuss the overall benefits of annuities to your clients.

Guaranteed income conversations take on added importance when discussing confidence among retirees regarding their savings. Given the tumultuous nature of the market in 2020, many more of your clients may be looking for risk control options. Prior to the recent ups and downs due to the COVID19 pandemic, data from the 2020 EBRI Retirement Confidence Survey (RCS)1 reflected apprehension — only 30% of retirees are “very confident” they will have a comfortable retirement. Although some statistics are up from the last two years, the latest study shows: 

  • 81% are confident they’ll be able to cover basic expenses
  • 70% believe they have the means to cover medical expenses 
  • 68% think they’ll have enough money to last their lifetime
  • 66% are confident that Medicare will continue to provide equal benefits, and 68% feel the same about Social Security

These numbers leave some significant gaps of people who are not feeling confident about their income in retirement. And retirees aren’t the only ones on edge. Perhaps the most startling RCS statistic related to the working population is that

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And that’s even up from 17% in 2018! 

The fear is real. But annuities can help provide the security that other investment options may not.

For additional resources to help support your client conversations about annuities, explore more on smartriskcontrol.com. Here are some fast facts to help your clients better understand the capabilities and benefits of annuities:

  • Fixed annuities are insurance products instead of investment products, so they earn interest instead of returns or gains
  • Registered index-linked annuities feature earned interest linked to market performance, up to a cap.
  • Variable index-linked annuities combine diversification with protection, offering customized, guaranteed limits on loss.
  • Income annuities offer guaranteed lifetime income which can help ensure that savings last as long as your client, or through a chosen period of time.

The better informed your clients are about annuities, the better they’ll feel about their future. National Annuity Awareness Month is a great opportunity to give your clients the facts they need about annuities, and also discuss the power of risk control annuities. Get all the details of annuity products. Click the button below to access the page!

Check out our annuity products

SOURCES:

1Employee Benefit Research Institute, 2020 Retirement Confidence Survey, April 23, 2020

MGA-3121111.1-0620-0722


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