WHO OWNS ANNUITIES

WHO OWNS ANNUITIES

THINK THAT YOU KNOW who

buys annuities? You might be surprised.

In September 2018, the Alliance for Lifetime Income conducted the Protected Lifetime Income Index Study of 3,120 U.S. adults between the ages of 25 and 74 that looked at annuity ownership by age, income, education, gender and more. What they found could be useful in helping you explain to your clients that they fit the profile of annuity owners. Among those who do own annuities:

46% are middle class, earning between $75,000 and $150,000
50% are college graduates
52% are between the ages of 55 and 74
62% have less than $500,000 in investable assets

While the study determined that many people who own annuities are older, it was Millennials who showed the greatest interest when asked if the concept of an annuity was attractive. More than half of these individuals (ages 23—38)* who were surveyed said they were “somewhat” or “very interested” in the idea of an annuity.

Clearly, protected lifetime income is something that many Americans consider to be an important part of their retirement planning. Being able to identify which type of people own annuities is the first step in educating other prospective individuals on the importance of protected lifetime income in their retirement portfolios.

Based on a survey from the Indexed Annuity Leadership Council

*www.pewresearch.org/

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