Chock-full of good stats…too many to list!

October 1, 2024 by Sheryl J. Moore

I thought long and hard about sharing this piece, Annuity Statistics: 2024 MarketWatch Guides Annuity Survey

That is because this survey is not representative of the industry in a couple of different categories. That said- I still think it has some validity and valuable findings.

Key takeaways:

– The majority of annuity owners (55%) purchase annuities for a stable monthly income;

– A guaranteed rate of return is the second most common reason our respondents bought annuities;

– Nearly 35% of respondents reported buying an annuity for its limited investment risk;

– Nearly 31% of respondents prioritized creating an income stream that can never run out;

– Less than half (about 45%) of annuity owners reported being extremely satisfied with their annuity provider, though 86% stated they’d recommend getting an annuity to others (WTH?!?);

– Nearly 50% of respondents compared total costs and fees to compare insurers and products;

– Nearly 56% of respondents said the annuity being offered by a stable, trusted insurer was the most important feature;

– Nearly 52% of respondents wanted a high payout or rate;

– 41% of respondents valued annuities offering the lowest costs; and

– 23% of respondents valued annuities with a specific rider or contract add-on.

Chock-full of good stats…too many to list! -sjm