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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

April is Financial Literacy Month: The More You Know, the More Secure You’ll Become

By LIMRA on Apr 25, 2023 11:23:29 AM

Financial literacy is one’s ability to understand the tools and concepts needed to make sound financial decisions. Often, this includes effective budgeting, saving, and investing but extends into income security. A lack of knowledge can inhibit consumers from protecting their income with products like life insurance and annuities.

Topics: Research/Trends LIMRA Financial Literacy Financial Security
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
2 min read

Younger Workers Could Greatly Benefit from Workplace Wellness Programs

By LIMRA on Mar 3, 2023 1:13:39 PM

In recent years, more Americans realize the importance of holistic wellness. In the workplace, employees look to their employers for wellness offerings to reduce financial, emotional and physical stress. According to LIMRA research, 74% of employees who experience a high degree of financial pressure believe employers should offer programs to address this particular stressor. Employees with moderate financial stress and those with no/very little stress also agree.

Topics: Benefits Group & Employee Benefits Research/Trends
3 min read

Another Record-Breaking Quarter for U.S. Retail Annuity Sales

By LIMRA on Nov 17, 2022 10:00:00 AM

For the second consecutive quarter, annuity sales reached new heights. In the third quarter 2022, total annuity sales were $79.6 billion, a 27% jump from prior year results, according to preliminary results from LIMRA’s U.S. Individual Annuity Sales Survey.

Topics: Benefits Group & Employee Benefits Research/Trends
2 min read

Workplace Life, Disability, & Supplemental Health Premium Rebounds in Q2

By LIMRA on Oct 19, 2022 10:00:00 AM

New annualized premium for workplace life insurance, disability insurance, and supplemental health products increased in the second quarter, according to LIMRA’s workplace benefits sales surveys.

“After a sluggish first quarter, sales for workplace life and disability insurance products experienced solid growth in the second quarter,” said Patrick Leary, corporate vice president, and director of LIMRA workplace benefits research. “Despite inflationary concerns, the awareness among employees of the need for insurance coverage remains even after their concerns about COVID-19 have waned, which helps explain the continued growth in certain voluntary products.”

Topics: Benefits Group & Employee Benefits Research/Trends
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