Millennials hungry for growth and protection, Lincoln Financial Group finds – InsuranceNewsNet

InsuranceNewsNet — Your Industry. One Source.™

Sign in
  • Subscribe
  • About
  • Advertise
  • Contact
Home Now reading Monthly Focus
Topics
    • Life Insurance
    • Annuity News
    • Health/Employee Benefits
    • Property and Casualty
    • Advisor News
    • Washington Wire
    • Regulation News
    • Sponsored Content
    • Webinars
    • Monthly Focus
  • INN Exclusives
  • NewsWires
  • Magazine
  • Free Newsletters
Sign in or register to be an INNsider.
  • INN Exclusives
  • NewsWires
  • Magazine
  • Free Newsletters
  • Insider
  • About
  • Advertise
  • Editorial Staff
  • Contact
  • Newsletters

Get Social

  • Facebook
  • Twitter
  • LinkedIn
Annuity Awareness Month
Monthly Focus RSS Get our newsletter
Order Prints
June 14, 2022 Monthly Focus No comments
Share
Share
Tweet
Email

Millennials hungry for growth and protection, Lincoln Financial Group finds

Business Wire
According to a recent study from Lincoln Financial Group, millennials under age 40, called “younger investors,” plan to purchase insurance products within the next five years – and in greater numbers than ever before.
And, thanks to interest rates, market volatility and student loan debt, younger investors are looking to the future, with products like annuities to help ensure protected lifetime income in their retirement.Since the start of the Great Recession in 2008, annuity ownership among millennials has increased significantly and has continued to rise.2 Tim Seifert, senior vice president and head of Retirement Solutions Distribution at Lincoln Financial Distributors, said: “The unique life experiences of the millennial generation have led people under age 40 to seek investment options to help protect and grow their income. Additionally, these younger investors are digitally savvy and accustomed to doing their own research, giving Lincoln Financial the opportunity to connect with and educate consumers in new and exciting ways.”

In recognition of Annuity Awareness Month, Lincoln Financial shares how annuities can offer younger investors the growth potential and downside protection they’re seeking, with optional benefits and riders to custom-fit their unique retirement income goals.

Ready, Set … Grow!

Annuities with additional cost benefits offer guaranteed growth potential and provide investors with lifetime income they can use to help maintain their lifestyle in retirement. This growth potential is a key feature of annuities, with different options and benefits to customize the growth that best suits the investor. Like buying a car or house, these options allow them to select the features that are most important and valuable to them.

A quarter of younger investors surveyed agree that an annuity is a better option for growth opportunities in the current interest rate environment than a savings account.2 Yet, only 12% were aware of the opportunity for tax-deferred growth provided by an annuity.1 With an annuity, the buyer’s money can grow tax-deferred until it is withdrawn, maximizing the investment’s growth potential.

The Power of Protection

The majority of millennials surveyed are most concerned about volatility (61%) and market loss (63%). Annuities with benefits can help ensure that retirement income is protected even when there are downturns in the market – providing income protection is unlike other insurance products.

Seifert continued, “Younger investors may have been affected by financial loss first-hand, given the uncertainty of the last few years and, before that, the market volatility during the Great Recession. Through various product features including triggers, annuities offer protection against loss during periods of market uncertainty, and opportunities for growth during rebounds.”

 

Older

Duck Creek Highlights Partnership with ODG by MCG, Focused on their Industry-Leading Return to Work Guidelines

Newer

The American Association for Homecare Breastfeeding Coalition Implores Insurance Companies and Medicaid Plans to Increase Coverage for Breastfeeding Supplies as the Baby Formula Shortage Continues to Deteriorate

Advisor News

  • Where inflation is going to hit you the hardest
  • The Federal Reserve is raising rates. Here’s what it means for your financial future
  • Social Security: celebrate independence with Social Security
  • XML Financial Group merges with Samson Wealth Management Group
  • Teach your clients effective strategies for today’s retirement
More Advisor News

Annuity News

  • Investors Heritage launches new fixed index annuity
  • Bobby Bonilla, king of the annuity owners
  • Winning $300 million Powerball ticket purchased in Middlebury
  • Sammons names Kevin Mechtley to newly created product innovation role
  • Athene completes pension group annuity deal with Lockheed Martin
Sponsor
More Annuity News

Health/Employee Benefits News

  • Best’s Special Report: 2nd year of COVID-19 hurts health insurers’ earnings
  • Advocates call on Congress to extend health insurance subsidies before 5,000 West Virginians lose coverage
  • Democrats want to raid Medicare to pay for Obamacare – again
  • BlueCross of SC CEO retires from state's largest insurer, replacement named
  • Companies could face hurdles covering abortion travel costs
More Health/Employee Benefits News

Life Insurance

  • Penn Mutual introduces new accumulation indexed universal life
  • Alex Murdaugh, alleged hitman Smith indicted on money laundering, drug trafficking charges
  • Five people with ties to the Murdaugh family have died mysteriously
  • Wisconsin seeks policyholders of insolvent Time Insurance Co. products
  • 4 things to know about the return of premium life insurance
More Life Insurance

- Presented By -

How to Write For InsuranceNewsNet

Find out how you can submit content for publishing on our website.
View Guidelines

FEATURED OFFERS

It’s time for John Hancock Insurance • See how our cutting-edge solutions can help you grow your life insurance business. Get to know us.
Grow your life insurance business with John Hancock • It’s time to see how our cutting-edge solutions can help you and your clients get to know us.

Press ReleasesAll press releases

  • iPipeline® Provides Advisors Excel with Unified Path Toward Accessing Core Data Analytics in Financial Services
  • iPipeline® Adds Speed of Underwriting to Quote Engine with Ethos to Deliver Insurance to Agents in Minutes
  • National Life Will Host Annual Investor Call
  • RFP #T01622
  • OneAmerica Commits $1 Million Toward Financial Literacy
Add your Press Release >

Topics

  • Life Insurance
  • Annuity News
  • Health/Employee Benefits
  • Property and Casualty
  • Advisor News
  • Washington Wire
  • Regulation News
  • Sponsored Content
  • Webinars
  • Monthly Focus

Top Sections

  • Life Insurance
  • Annuity News
  • Health/Employee Benefits News
  • Property and Casualty News
  • AdvisorNews
  • Washington Wire
  • Insurance Webinars

Our Company

  • About
  • Editorial Staff
  • Magazine
  • Write for INN
  • Advertise
  • Contact

Sign up for our FREE e-Newsletter!

Get breaking news, exclusive stories, and money- making insights straight into your inbox.

select Newsletter Options
Facebook Linkedin Twitter
© 2022 InsuranceNewsNet.com, Inc. All rights reserved.
  • Terms & Conditions
  • Privacy Policy
  • AdvisorNews

Sign in with your INNsider Account

Not registered? Become an INNsider.