IIG Joins As Sponsor of National Annuity Awareness Month
June 11, 2014 by Mark Stone
Park City, UT (May 30, 2014) – Insurance Insight Group (IIG) has joined the Coalition for Annuity Awareness to support National Annuity Awareness Month. Designed to provide awareness and understanding of annuities and their benefits in financial and retirement planning, activities in support of the inaugural National Annuity Awareness Month will occur throughout the month of June. Annuities are often misunderstood and misrepresented. The Coalition for Annuity Awareness will provide facts about annuities so that consumers can make informed decisions that are beneficial to their life plans and retirement dreams.
As a member of the Coalition for Annuity Awareness, IIG will aid in the production and development of educational material, webcasts and social media communications to help educate financial professionals and the public on the important role fixed and variable annuity products play in helping Americans save for retirement.
“National Annuity Awareness Month perfectly aligns with IIG’s unique and deep experience in the insurance industry. As marketing and training experts in the life and annuity marketplaces, we strongly believe in the value and importance of annuities and their role in insuring retirement saving and retirement income to Americans,” noted Mark T. Stone, Principal & Chief Marketing Strategist.
About Insurance Insight Group:
Insurance Insight Group is a full-service, insurance marketing firm offering life insurance and annuity marketing and training services to carriers, marketing organizations, banks, and broker-dealers. The executives at IIG have collective experience of over 75 years in the insurance industry resulting in a successful track record with some of the nation’s leading insurance carriers and marketing organizations.
About the Coalition for Annuity Awareness
The Coalition for Annuity Awareness is comprised of industry associations who serve consumers by helping them understand annuity products. As today’s challenging economic environment continues to evolve, a growing number of individuals and families are turning to annuities to help provide security for their retirement. Specifically, many consumers are using annuities as a vital risk management tool to protect themselves against the possibility of outliving their financial resources. Annuities are unique among financial products in the marketplace because they can provide retirees with a guaranteed lifetime income stream.
Currently, there is over $500 billion in-force premium serving roughly 3.3 million Americans. The annuity market is largely comprised of middle-class consumers with an average annuity valued at $90,000[1] and a household income of around $100,000[2]. In 2012, life insurance companies paid $97 billion in annuity benefit payments providing crucial retirement security to contract holders. In addition, according to the American Council of Life Insurers (ACLI), more than 75 million Americans rely on annuities and other insurance products for financial and retirement security, and nearly 20 percent of Americans’ long-term savings is in life insurance and annuities.
[1] Beacon Research Report
[2] The Committee of Annuity Insurers, Survey of Owners of Individual Annuity Contracts (The Gallup Organization and Mathew Greenwald & Associates, 2013
