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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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The Insured Retirement Institute works to provide information and news that assists in the education and better understanding of the role insured retirement products play in a financially secure retirement plan.
Recommended by 11 people IRI Exclusive Report: The Retirement Readiness of Generation X
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 22 people IRI Exclusive Report: Health Care Expenses and Retirement Income
The Insured Retirement Institute's exclusive report, "Health Care Expenses and Retirement Income: How Escalating Costs Impact Retirement Savings," examines the impact of rising medical expenses on Baby Boomers' retirement income planning and strategies that may alleviate some of the financial burden.
Recommended by 56 people Variable Annuities Post Record New Sales
The Insured Retirement Institute (IRI) today announced final third quarter results for the United States annuity industry. Net variable annuity sales were $8.8 billion, the highest level in fourteen quarters when third quarter 2007 levels were $8.9 billion. In addition, revised annuity sales for the third quarter show a greater year-to-year growth, and a smaller quarter-to-quarter decline than originally estimated. Third quarter industry-wide sales were $58.1 billion, up 6 percent from third quarter 2010 sales of $54.5 billion. Compared to second quarter sales of $60.4 billion, third quarter sales were down 4 percent.
Recommended by 52 people Study: Retirees Favor Guaranteed Income Over Asset Accumulation
Research from the Insured Retirement Institute (IRI) and Cogent Research underscores the importance annuity buyers place on guaranteed income during retirement as opposed to accumulating assets. Nearly two-thirds (65 percent) of advisors who participated in the survey and who sell annuities said that guaranteed income options are expected to become more prevalent over the next five years, surpassing other factors.
Recommended by 58 people IRI Research: Retirement Planning and the Elder Market
IRI's "Retirement Planning and the Elder Market" explores the challenges advisors face in conveying pertinent information to older clients, a market segment that is growing in both number and net worth. The report found the highest median net worth is among individuals between ages 55 and 64 while senior citizens, age 75 years and older, have a net worth nearly 20 percent higher than that of Boomers between ages 45 and 54.
Recommended by 48 people IRI Report: Women, Retirement and Advisors
While married women are more confident than un-married women, half of all women feel they need assistance in managing their finances.
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