In a time of transition, life insurance and annuity sales are thriving. But there are many issues to tackle and disruptions at play. These all were topics of discussion at the recent LIMRA Life and Retirement Conference.
Total first quarter sales for all annuities were $98.2 billion, down 1.9% compared to the previous quarter and down 5.7% compared to the same period last year.
Rather than viewing AI as a threat, financial advisors should see it as a powerful tool that can enhance capabilities and free up time for more strategic, creative, and client-focused tasks.
The number of annuity offerings available in the marketplace continues to expand, but sometimes it’s a good idea to take another look at a product that’s a bit more traditional – a variable annuity with lifetime income benefit riders.
Insurance companies continue to add newly launched indices to their fixed indexed annuity products, leading to a growing need to educate on the difference between live and back-tested index performance to help properly set policyholder expectations.