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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?
Consumers
Tools to Assist in Your Retirement Investment Decisions
Trying to get the most out of retirement? Looking to create your own pension? Worried about inflation? Our simple, up-to-date information can lead you to answers. As always, investors are encouraged to seek advice from professionally qualified personnel educated in financial planning.
Recommended by 30 people Rising Health Care Costs Threaten to Erode Retirement Savings
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 41 people Retirement Crisis Shows Need for Insured Retirement Strategies
The Insured Retirement Institute (IRI) today submitted its response to the Federal Insurance Office (FIO) request for comment for “Public Input on the Report to Congress on How to Modernize and Improve the System of Insurance Regulation in the United States.” In the letter, the IRI commends the FIO’s efforts to identify ways to modernize and improve the country’s insurance regulatory system, while examining the availability of insurance products to underserved populations. The Institute also encourages the FIO to focus on the regulatory environment in the context of the current state of retirement savings readiness in America and the need for consumers to insure against the risk of outliving their assets as part of any assessment of the regulation of the insured retirement industry.
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 47 people Study Shows Annuity Industry Poised for Growth
Two major changes are taking place in the annuity industry today. According to a new report released by Cogent Research and the Insured Retirement Institute (IRI), conversations with advisors have become more emotional and are heavily geared toward securing retirement income as opposed to accumulating assets. In fact, nearly two-thirds (65%) of advisors currently selling annuities indicate that guaranteed income options are expected to increase in importance over the next five years – more so than any other factor.
Recommended by 55 people IRI's New Retirement Income Guide: "Building Your Future"
This highly anticipated, client-oriented retirement income guide discusses strategies and products for retirement income planning. "Building Your Future" is a first-of-its-kind brochure designed to assist in retirement planning discussions with your clients.
Recommended by 57 people IRI's Retirement Income Guide Now Available
The Insured Retirement Institute's (IRI) FINRA-reviewed brochure, "Building Your Future: Strategies and Products for Retirement Income Planning," and the supplemental matrix, "Retirement Income Strategies & Products at a Glance," are now available.
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