PlanEasy Launches Innovative Retirement Platform and Annuity Marketplace for Consumers
July 18, 2023 by PlanEasy
LINCOLN, Neb.–(BUSINESS WIRE)–PlanEasy, founded by financial services entrepreneurs and annuity industry veterans Michael Salem and Noh-Joon Choo, is excited to announce the official launch of its consumer retirement platform PlanEasy.com. PlanEasy is the industry’s first end-to-end online consumer platform designed specifically for everyday Americans seeking to understand and simplify all of their key retirement decisions. As part of the launch of the broader platform, PlanEasy is also opening its first retirement products marketplace, PlanEasy’s Annuity Marketplace, an innovative digital marketplace of fixed annuities serving consumers seeking to shop, compare and purchase top-notch fixed annuities with attractive interest rates and ratings.
Concurrent with the broader PlanEasy platform launch, the company is pleased to announce the recent close of its seed round financing.
The PlanEasy Founders, Michael Salem and Noh-Joon Choo, are excited to continue to build PlanEasy by leveraging their deep domain expertise in the retirement and annuity space, including industry-leading capabilities and experience in technology, distribution and product design. Before founding PlanEasy, Executive Chairman Michael Salem founded and led the industry-leading, Nebraska-based annuity carrier American Life (parent company Midwest Holding) as one of the most innovative and fastest-growing life and annuity companies in the U.S. retail market.
“We are thrilled to launch PlanEasy.com and its Annuity Marketplace,” said PlanEasy CEO Noh-Joon Choo. “Our mission is to simplify the journey of retirement. We do this by offering consumers free online retirement-related education, interactive gamified tools and a digital marketplace for annuities. Our vision is a world where individuals confidently make informed retirement decisions.”
PlanEasy has organized its content, tools and products, into key retirement verticals, making it easy for consumers to know exactly what topics they need to be thinking about to develop a simple, yet comprehensive retirement strategy that covers all their bases.
“The retirement services industry is fragmented and complex. We developed PlanEasy as a trusted, independent platform to provide consumers clear and easy access to the products, services and information, including a retirement roadmap, that until now, have only been available through traditional in-person consultation. PlanEasy makes it easy for people to execute on a retirement strategy, regardless of where they are in life,” added Executive Chairman, Michael Salem. “I am excited to carry forward my commitment to innovation in the retirement market with the launch of PlanEasy.”
Market Opportunity
PlanEasy is positioned to capitalize on the retirement megatrend. By 2030, all baby boomers will be older than 65 years of age, representing more than 80 million or 1 in 5 Americans, per the U.S. Census; within two decades, Americans over 65 years of age will outnumber children under the age of 18 years for the first time in U.S history.1
PlanEasy aims to serve baby boomers seeking guidance and resources online regarding their retirement strategy and the ability to purchase annuities online to optimize their retirement savings and income. The popularity of the multi-year guaranteed annuities (MYGAs) that PlanEasy’s Annuity Marketplace offers is evidenced by the more than $100 billion of MYGAs sold in 2022 last year, an annual increase of over 100% or more than double the volumes seen the prior year, per LIMRA.2
PlanEasy.com is now live and accessible to consumers seeking a user-friendly platform to strategize for retirement and purchase annuities. Whether it’s understanding annuity options, calculating retirement income or exploring retirement strategies, PlanEasy is designed to simplify the process and empower users every step of the way.
To learn more about PlanEasy and experience the future of retirement, visit www.planeasy.com.
About PlanEasy
PlanEasy’s mission is to simplify the journey of retirement. PlanEasy accomplishes this by offering consumers free online retirement-related education, interactive gamified tools and a digital marketplace for annuities. PlanEasy’s vision is a world where individuals confidently make informed retirement decisions. By offering educational resources, gamified quizzes and calculators that are interactive and fun for the consumer, as well as a seamless annuity marketplace experience, PlanEasy puts individuals in control of their retirement future.
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1 U.S. Census Bureau (2018, March 13). Older People Projected to Outnumber Children for First Time in U.S. History. Retrieved from https://www.census.gov/newsroom/press-releases/2018/cb18-41-population-projections.html. |
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2 LIMRA (2023, January 26). LIMRA: 2022 U.S. Retail Annuity Sales Shatter Annual Sales Records Set in 2008. Retrieved from https://www.limra.com/en/newsroom/news-releases/2023/limra-2022-u.s.-retail-annuity-sales-shatter-annual-sales-records-set-in-2008/. |
Contacts
Noh-Joon Choo
media@planeasy.com
Wink’s Moore on the Market: A ton of work needs to be done in educating consumers about what annuities are, and aren’t. Misinformation needs to be clarified. A value proposition must be made clear.
So far, I haven’t seen anyone having huge success with online sales of annuities. Have you? -sjm
