With the markets experiencing significant volatility over recent years and Americans growing ever more concerned about their retirement prospects, the National Association for Fixed Annuities (NAFA) is among several other organizations trying to raise awareness among investors and advisors about annuities during National Annuity Awareness Month this month.
Chuck DiVencenzo, president and CEO of NAFA, said that given the variety of annuities, there is an offering there for everyone.
“You put together the right product for the individual,” he said. “You see the benefits when your advisors list all the [positives] that these offerings can do.”
“The lifetime guaranteed payment can really help people process their deaccumulation period,” DiVencenzo added..
National Annuity Awareness Month takes place every June and given the difficulty of the last few years, DiVencenzo said it is important to get the word out about annuities. NAFA will be working with its partners to promote awareness about them among advisors. Joining NAFA are the American Council of Life Insurers (ACLI), the Alliance for Lifetime Income, Finseca, the Indexed Annuity Leadership Council (IALC), the Insured Retirement Institute (IRI) and the National Association of Insurance and Financial Advisors (NAIFA).
To promote annuities, the groups will be conducting webinars, launching videos, and creating other education tools for advisors to help them inform their clients about the offerings as well as their benefits.