For more stories like this, sign up for the PLANSPONSOR NEWSDash daily newsletter.
Benefits June 3, 2010
Annuity Buyers Flocking to Lifetime Income Guarantee
June 3, 2010 (PLANSPONSOR.com) – An insurance trade group reported Thursday that more than 81% of variable annuity purchasers opted for a lifetime guarantee of income in the first quarter.
Reported by
Fred Schneyer
A news release from the Insured Retirement Institute (IRI) said the most popular lifetime guarantee consumers chose during the quarter was a lifetime withdrawal benefit. About 70% of variable annuity sales were in products that offered the ability to take a set percentage withdrawal from the account for life – down slightly from 78% in the fourth quarter of 2009.
The data was prepared by Advanced Sales & Marketing Corporation for the IRI, which focuses on annuities, insured retirement strategies and retirement planning.
The data is available here.
You Might Also Like:
Benefits |
PLANSPONSOR Roadmap: Navigating the Retirement Income Landscape
Experts discussed variations among categories of lifetime income and how to overcome barriers to participant adoption.
Employees Exhibit Low Confidence in Retirement Preparedness
A State Street study suggests employers can offer practical support in helping employees navigate their transition into retirement.
TDFs Can Support Retirement Spending, per Capital Group
A Monte Carlo analysis found fixed and variable withdrawal approaches may help retirees generate income for decades.
« Research Affiliates Announces New Hire for Institutional Biz Development
