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FINANCIAL LITERACY MONTH

You still have a few days left this month to make the most of Annuity Awareness Month, currently under way.

This is the promotional campaign designed to educate consumers about annuities and the role they play in a sound financial plan. This is an excellent time to start the conversation with clients and prospects and explain how annuities can help them reach their retirement goals.

Although COVID-19 turned the financial markets upside down in March, several annuity products

have since seen an uptick in sales, according to LIMRA.

For example, while fixed annuities fell 21 percent from last year as interest rates pulled down crediting rates in all fixed product lines, variable annuity sales increased 14 percent from the prior year. Registered index-linked annuities grew 38 percent from last year, while all other variable annuity types experienced a 10 percent increase from the prior year.

Several publications and organizations offer tools and resources to help you make this year’s campaign your best year yet. They include:

*Advisor Today at www.at.naifa.org

*LIMRA at www.limra.com

*Secure Retirement Institute at www.limra.com.sri

Don’t delay. Use the information provided by these organizations to educate your clients and prospects about annuities so that they can make informed decisions about their retirement plans.

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