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2 min read

LIMRA: It’s No Longer Your Parents’ Retirement

By LIMRA on May 25, 2023 10:00:00 AM

How workers’ need for lifetime-guaranteed income may drive more Americans to consider annuities

The goal of a successful retirement is to have enough guaranteed income to cover basic living expenses and not have to worry about running out of money for the rest of your life. According to recent LIMRA research, workers today do not feel that their households will receive enough lifetime-guaranteed income to cover basic living expenses throughout retirement.

Topics: Retirement Planning Life Insurance & Annuities Retirement Research/Trends LIMRA
2 min read

New LIMRA Study Reveals Creating Income Is Top Motive for Annuity Buyers

By LIMRA on May 15, 2023 11:30:00 AM

The decision to buy an annuity or not can be a complex one. Understanding the factors that influence an investor’s decision to buy can help carriers design and market products and guide financial professionals’ approaches when speaking to their clients.

Topics: Life Insurance & Annuities Research/Trends Investing LIMRA
2 min read

LIMRA Study Predicts the In-Plan Annuity Market Will Grow Exponentially Over the Next 2 Years

By LIMRA on Mar 24, 2023 3:29:51 PM

LIMRA Research Head explains the growing market opportunity for in-plan guarantees and the role of education.

Following the recent passing of the SECURE Act 2.0, the financial services industry expects greater adoption of in-plan guarantees in late 2023 and 2024. In-plan guarantees are plan designs offered by employers that can convert retirement savings into a stream of guaranteed income payments during retirement. Designs of in-plan guarantees include annuities inside a target date fund (TDF), a stand-alone annuity product, and annuity options outside of the plan but linked to it. Educating advisors, plan sponsors, and employees on the value of in-plan annuities will affect their acceptance.

Topics: Diverse Markets Life Insurance & Annuities Group & Employee Benefits Research/Trends LIMRA
4 min read

LIMRA: Record Annuity Sales in 2022 Expected to Continue Into First Quarter 2023

By LIMRA on Mar 14, 2023 11:09:50 AM

Facing unprecedented long-term market volatility in 2022, consumers sought the protection offered by fixed annuities, propelling a record-high $312.8 billion in total U.S. annuity sales. According to LIMRA’s 2022 Individual Annuity Sales Survey, total 2022 annuity sales increased 23% over 2021 results and were 18% higher than the previous record of $265 billion set in 2008.

Topics: Life Insurance & Annuities Research/Trends LIMRA
3 min read

Fixed-Rate Deferred Annuity Product Sales Lead the Way in Record-Breaking Second Quarter

By LIMRA on Aug 25, 2022 10:00:00 AM

Total U.S. annuity sales increased 16% to $79.4 billion in the second quarter, according to LIMRA’s U.S. Individual Annuity Sales Survey. Fixed-rate deferred (FRD) and registered index-linked (RILA) sales reached an all-time record for the quarter, while fixed index annuity sales fell just short of a record quarter.

“All fixed products showed positive growth as consumers looked for safety from the volatile equity markets,” said Todd Giesing, assistant vice president, LIMRA Annuity Research. “With average yields at or above 3% for fixed-rate deferred annuities, it’s a rate environment we haven’t seen in a long time.”

Topics: Life Insurance & Annuities Research/Trends
3 min read

Sales of Life Combination Products Rebound in 2021

By LIMRA on Aug 22, 2022 12:43:24 PM

Total new premium for individual life combination products increased 22% to $4.3 billion, compared with prior year results, and down slightly from the $4.8 billion in premium generated in 2019, according to LIMRA’s 2021 U.S. Individual Life Combination Products Annual Review. Combination products represented 20% of total life insurance premium in 2021.

Topics: Life Insurance & Annuities Research/Trends Insurance
3 min read

LIMRA: Second Quarter Annuity Sales Shatter Record Set During the Great Recession

By LIMRA on Aug 1, 2022 10:00:00 AM

Total U.S. annuity sales increased 22% to $77.5 billion in the second quarter, according to preliminary results from LIMRA’s U.S. Individual Annuity Sales Survey. This marks the highest quarterly sales ever recorded since LIMRA began tracking annuity sales and nearly $9 billion above the previous record set in the fourth quarter of 2008 during the Great Recession.

Topics: Life Insurance & Annuities Research/Trends
2 min read

LIMRA Predicts Steady Growth in Annuity Sales as Number of Retirees Expands

By LIMRA on Jun 30, 2022 10:00:00 AM

Despite the continued challenges resulting from the COVID-19 pandemic, the annuity industry rebounded strongly — with the first quarter of 2022 seeing total U.S. annuity sales increase 4% to $63.3 billion. LIMRA expects this momentum to continue through the next several years.

“The outlook for rising interest rates and fairly level equity markets will have investors continuing to look for the balance between protection, growth, and guaranteed income, creating a strong potential for individual annuity sales to break the all-time record levels of sales experienced in 2008,” says Todd Giesing, assistant vice president, LIMRA Annuity Research.

Topics: Life Insurance & Annuities Research/Trends Annuity Awareness Month
3 min read

Meeting the Life Insurance Need Through Workplace Benefits

By LIMRA on Jun 16, 2022 10:00:00 AM

COVID-19 raised consumers’ awareness about the importance of life insurance. According to LIMRA research, half of U.S. workers believe their life insurance benefit is more important due to COVID-19. To ensure every worker who has access to life insurance at their workplace opts in, our industry needs to expand efforts to educate employers about the value their workers place on life insurance and encourage them to highlight this important benefit during their next open enrollment.

Topics: Life Insurance & Annuities Group & Employee Benefits Research/Trends COVID-19 Insurance
2 min read

Sales of Life Combination Products Plummeted in 2020

By LIMRA on May 5, 2022 1:26:00 PM

After strong results in 2019, the total new premium for individual life combination products decreased 23% to $3.7 billion in 2020, according to LIMRA’s 2020 U.S. Individual Life Combination Products Annual Review. There were approximately 421,000 policies sold in 2020, down 7% compared with 2019 results.

Life combination products provide life insurance coverage with long-term care or chronic illness coverage, an attractive value proposition to consumers, according to LIMRA consumer research.

Topics: Long-Term Care Life Insurance & Annuities Research/Trends Insurance

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