Females More Likely to Purchase Annuities than Males

If you are trying to sell annuities, you might find it interesting to know that more women are likely to buy an annuity than men, according to a study by LIMRA.

AnnuitiesLIMRA findings indicate that women are “somewhat” more likely to purchase an annuity; with the average age at which the product is bought is 73. The majority of sales, according to LIMRA, consist of guaranteed payments.

LIMRA found that there is more flexibility with annuities than consumers realize. Potential clients often hesitate to buy an annuity because they have a fear of losing control of their money. However, research shows that two-thirds of the contracts actually allow clients to convert a portion of remaining payments to cash if necessary.

In further research, LIMRA reports indicate that buying annuities through an agent remains the most popular method of purchasing the product, though a there is evidence of consumers using brokers and banks. At any rate, it’s important for a client to feel comfortable when purchasing an annuity from their agent. Planning for one’s final years is an important decision that should not be trusted to just anybody.

You want to ensure that you and your family is taken care of as you live out your Golden Years. Finding the right agent and relationship to make sure this happens is very important. Don’t wait until it is too late. Take the proper steps today to make sure you put yourself in the best possible position financially as you plan for retirement.

Visit National Agents Alliance NAALife for more information regarding annuities.


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: