When it comes to preparing for retirement, insurance customers often look to annuities. And as a recent survey indicates, consumers seem to be most pleased by what they offer.
According to a new study conducted by LIMRA, annuity buyers tend to be quite satisfied with their annuity purchases, as these sentiments were shared by 75 percent of variable annuity buyers, 83 percent of those who bought indexed annuities and 86 percent of traditional fixed annuity shoppers.
Joseph Montminy, vice president of annuity research at LIMRA, indicated that this is good news for insurance agents.
"We are very encouraged to see so many satisfied annuity buyers," said Montminy. "Of those who are satisfied, two-thirds of the VA households own two or more annuities."
He added that agents and advisors may be able to grow their business potential by getting in touch with their clients every now and then to see how they are doing with their purchase and if there's anything that can be done to further assist them.