14
ID Trends
What was MOST important during the buying process:
Ability to annuitize the contract and
receive guaranteed lifetime income
19 %
15 %
A fixed rate of return/protection of principal
Guaranteed lifetime income feature that allows
you to retain access to the account value,
for which you may pay an additional fee
14 %
11 %
Financial strength of the company
The interest rate or projected return 10 %
Recommendation of a financial professional 10 %
Source: Deferred Buyer/Nonbuyer Study (2018), LIMRA Secure Retirement Institute.
How annuity buyers intend to use their product:
Percent of deferred annuity owners/buyers
31 %
31 %
To supplement Social Security
or pension income
24 %
28 %
Receive lifetime
guaranteed income
22
24 %
13 %
Cover essential or
discretionary expenses
11 %
16 %
10 %
Accumulate assets
for retirement
14 %
13
%
Fixed rate annuity owners/buyers
Fixed indexed annuity owners/buyers
4 %
Leave inheritance
%
10
10 %
%
Variable annuity owner/buyer
14 %
Other reasons
12
%
13 %
Source: Annuity Buyer/NonBuyer Survey, LIMRA Secure Retirement Institute, 2017.
The findings are based on 1,000 deferred annuity owners who bought their annuity from an advisor during the last 3 years.
2019