Buyers Look Past Marketing and Buy the Annuity’s Purpose
May 4, 2018 by Jafor Iqbal and Todd Giesing
Why and when do investors buy an annuity? How much do they invest, and in what types of annuities? Answers to these simple questions can give advisors and other financial professionals a clear understanding of how they can find their best clients and grow their annuity business.
LIMRA Secure Retirement Institute’s 2017 Annuity Buyers Metrics study shows that although annuities are called by different names, their core values matter most, and they attract buyers with similar investment objectives. When we connected the investment objectives of a particular type of annuity to its buyers, we began to see a simple pattern — annuities appeal to pre-retirees and retirees by addressing three major investment needs: accumulate, preserve the principal and receive predictable retirement income.
By understanding the trends between buyers, their investment needs and the annuities they are purchasing, advisors and other financial professionals will be best equipped to address retirees’ and pre-retirees’ specific goals.
Click HERE to read the full story via INN Magazine.