The fixed annuity industry is constantly changing. From product evolution and distribution consolidation to pending regulation and legislation, NAFA works diligently to keep up with every aspect of the marketplace and provide you with its most pertinent news in a timely manner. Utilize the information below to read about recent media coverage in our Monday Media Reports, access all things NAFA via our NAFAwire, visit our Press Room for the association’s most current news releases or to catch up on our Twitter feed.
2020 was a roller-coaster ride for U.S. life and annuity market
17 March – Business Record
“The pace of the U.S. life and annuity industry’s emergence from COVID-19 disruption accelerated late in an otherwise challenging 2020, according to a new report from S&P Global Market Intelligence.”
Opinion: Are annuities a good deal?
19 March – Alicia H. Munnell – Market Watch
“In theory, of course, the best option is to buy an annuity. It provides the highest level of income and insures against running out of money. But are annuities a “good deal?” This topic has not been addressed in two decades.”
Do Annuities Work for All Clients?
23 March – Nasdaq
“Annuities have seen major growth in popularity since the pandemic began—a 40% tumble in stock prices when a huge portion of Americans are about to retire will do that. Annuities sales have risen, and advisors—especially those new to selling them—may be asking themselves if the products are good fit for all clients”
Can Annuities Boost Retiree Returns?
24 March – Ben Mattlin – Financial Advisor
“Although interest rates are rising, they’re still pretty low by historical measures, so it’s hard to get a safe, reliable return on savings—especially for retirees who may have a relatively short timeframe. Variable annuities, which invest in mutual fund-like sub-accounts, can post decent gains depending on the vagaries of the market, but they’re also subject to market volatility. What about the more secure portion of a retirement plan? Can fixed-rate annuities help build returns?”
A New Retirement Security Framework Is Required to Meet Unprecedented Challenges Posed by “Peak 65” Moment
30 March – Alliance for Lifetime Income – PR News Wire
“The Alliance for Lifetime Income, a non-profit consumer education organization, today published a new economic report that spotlights how underprepared millions of baby boomers are for today’s retirement realities and proposes ideas for a new retirement security framework as we approach a historic demographic milestone in the US.”
How The Pandemic Actually Increased Financial Literacy
3 April – Chris Carosa – Forbes
“It began as an extended snow day and quickly accelerated to a nation-wide shutdown with no end in sight. With markets falling in a tailspin, could you blame anyone who became anxious?
The future looked bleak—assuming you believed you would have a future.
“Obviously a year ago people were scared,” says Craig Kirsner President, Retirement Planning Services at Stuart Estate Planning Wealth Advisors in Pompano Beach, Florida. “The economy was shut down; the S&P was down 31% and the Dow was down 41% in only a 6-week period! People were having flashbacks to the 2008/2009 crash and were really getting concerned!””
Iowa Insurance Division launches online retirement savings education tool
7 April – Staff – Business Record
“The Iowa Insurance Division has launched Save4Later — a financial wellness and retirement security program that provides tools and resources to help Iowans plan for retirement and save for a financially secure future. “Whether you are 25 or 65, it is never too late to start planning and saving for retirement,” Iowa Insurance Commissioner Doug Ommen said.”
States picking up annuity best-interest standard (may require free registration)
7 April – Emile Hallez – Investment News
“Recently, Nebraska, Idaho and North Dakota passed rules matching NAIC’s standard, joining other states on the roster: Arkansas, Arizona, Delaware, Iowa, Michigan and Rhode Island”
4 Retirement Planning Hacks for Late Starters
7 April – Diane Mtetwa – Motley Fool
“If you are someone who got a late start saving for retirement, you may fear that it is out of reach — especially when you hear blanket numbers of how much you should have saved by now.
But you can start saving for this milestone at any time. And if you are concerned that it’s too late, these four hacks can help you catch up.”