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Did You Know?
- That, as of the first quarter 2011, the combined net assets of U.S. variable annuities were valued at nearly $1.6 trillion, an 11% increase from first quarter 2010 and the highest level ever recorded?
- In 2010 fixed annuity assets were valued at $659 billion a 6% increase from 2009?
- That in 2010, the total average expense difference between variable annuities and mutual funds was 1.01%?
- In 2011, the contribution limits range from $5,000-$6,000 for an IRA, $16,500-$22,000 for a 401(k) and $200,000 plus for a non-qualified annuity?
- That the average number of funds per variable annuity contract was 50 in 2010, of which 47% of assets were invested in equities, 11% in bonds, and 20% in fixed-rate accounts?
- That the guaranteed lifetime withdrawal benefit was offered on 79% of variable annuities in 2011 and was elected by 65% of contract holders?
- Boomers who own annuities have a higher confidence in retirement expectations, with 92% believing they are doing a good job in preparing for retirement?
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High-Level Professional Resources
Being a professional who renders retirement advice, financial planning, and retirement services to individuals is a challenge. Look to the Insured Retirement Institute's searchable sources to support the cultivation of a sufficiently knowledgeable sales force—who can explain annuities clearly, accurately, and understandably to the investor.
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The Insured Retirement Institute's (IRI) exclusive report, "Retirement Readiness of Generation X: An Overview of the Next Generation of Retirement Investors," explores the retirement preparations of Americans in their 30s and 40s, and looked at their outlook for retirement and the issues that are shaping these expectations. The report found that nearly two-thirds (65 percent) of the members in Generation X (GenXers) lack confidence that they will have enough money to live comfortably in retirement, to cover medical expenses during retirement and to pay for the cost of their children's higher education.
Recommended by 13 people IRI Exclusive Report: The Retirement Readiness of Generation X
The Insured Retirement Institute (IRI) today released its report, “Retirement Readiness of Generation X: An Overview of the Next Generation of Retirement Investors.” This exclusive report explores the retirement preparations of Americans in their 30s and 40s, and looked at their outlook for retirement and the issues that are shaping these expectations. The report found that nearly two-thirds (65 percent) of the members in Generation X (GenXers) lack confidence that they will have enough money to live comfortably in retirement, to cover medical expenses during retirement and to pay for the cost of their children’s higher education.
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The Insured Retirement Institute (IRI) today released its report, “Health Care Expenses and Retirement Income: How Escalating Costs Impact Retirement Savings.” This exclusive report examines the impact of rising medical expenses on Baby Boomers’ retirement income planning and strategies that may alleviate some of the financial burden. The report found that a healthy 65-year-old male can expect a total cost of health care expenses, including premiums, for the rest of his lifetime to top $350,000, and a 65-year-old woman can expect at least $417,000 in health care expenses—a 13% increase compared to her male counterpart. It also found that the average person on Medicare will have out-of-pocket medical expenses totaling more than $4,300 per year.
Recommended by 32 people IRI: Annuity Statements Provide Crucial Contract Information
The Insured Retirement Institute (IRI) today released a report in partnership with Corporate Insight that found a majority of quarterly annuity statements utilize similar formats providing significant contract data in a highly organized format. The report analyzes the design, layout and contract information provided in paper statements from 17 firms which participated in Corporate Insight’s Annuity Monitor Statement Analysis.
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