Eight in 10 advisors who sell annuities report that they are having more client discussions about retirement income planning than they did five years ago. And those discussions are becoming more emotional, according to a new report -- “The Evolution of the Annuity Industry” -- released by the Insured Retirement Institute (IRI) and Cogent Research. Nearly two-thirds (65%) of advisers currently selling annuities indicate that guaranteed income options are expected to increase in importance over the next five years -- more so than any other factor.
"Opportunities abound for the financial services industry to not only meet the growing investor demand for insured retirement strategies, but also to develop business practices that support the continued acceptance and use of these products,” said IRI President and CEO Cathy Weatherford. “Our research has found that the most important retirement income goal, for all investors -- annuity owners and non-owners alike -- is to ensure they do not run out of money. With the market being ripe for insured retirement strategies, the industry is in an extraordinary position to exponentially grow.”
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