LIMRA/LOMA completes Alliance for Lifetime Income merger, names board

The LIMRA and LOMA merger with the Alliance for Lifetime Income is finalized, and a new advisory board is in place.

Rebranded as the Alliance for Lifetime Income by LIMRA, the program will "continue its mission to engage and educate consumers, financial professionals and policymakers about the importance of including protected lifetime income in their retirement planning," LIMRA said in a news release.

ALI was founded in 2018 to help consumers and financial advisors better understand the importance of protected income in retirement. Over the years, ALI has developed creative, successful public-facing campaigns that educate consumers about retirement risks and the value of annuities.

In particular, the fledgling association secured the sole sponsorship of The Rolling Stones' 2019 "No Filter" U.S. stadium tour, which continued in 2021 after a COVID-19 break. ALI also trademarked "Peak65," a catchy moniker to emphasize that more than 4.1 million Americans will turn 65 each year through 2027, or roughly 11,200 every day.

LIMRA announced the ALI transaction in June. As part of the transition, LIMRA has established an executive advisory board, comprised of industry leaders, to help guide the next chapter of the organization.

“This transaction underscores LIMRA’s commitment to advancing retirement security by educating consumers and advisors about the value of the financial protection our members’ products provide,” said David Levenson, president and CEO of LIMRA and LOMA. “With 11,000 Americans turning 65 each day, there’s never been a more important time for this work.”

In August, LIMRA appointed Jennifer Burlingame, managing director and head of Global Retirement and Insurance Enterprise Strategic Relationship Management, Prudential Financial, as chair of the new advisory board in 2026. Thirty-one additional executives from annuity manufacturers, distributors, consulting firms and trade associations have joined the advisory board.

“It’s an honor to chair the new executive advisory board, comprised of talented leaders from across the industry who share the same goal of helping people achieve financial security in retirement,” Burlingame said. “The Alliance for Lifetime Income by LIMRA will focus its efforts to educate consumers and advisors about the importance of creating protected income in retirement. With people living longer and not necessarily saving for a longer retirement there is a critical need for this education. I’m confident that this organization will help build a stronger, more financially secure future for many Americans.”

LIMRA also hired Suzy Jacobs as head of consumer and advisor strategy. Previously, Jacobs was chief operating officer at Finseca. In this new role, she will help LIMRA expand its marketing and communications efforts to reach financial professionals and consumers, building greater awareness of annuities' role in retirement financial security, the release said.

Jacobs reports to LIMRA and LOMA Chief Marketing Officer Tina Beckwith.

This report compiled by InsuranceNewsNet staff.