The National Association for Fixed Annuities (NAFA) is the exclusive trade association solely dedicated to fixed annuities. NAFA has brought together industry leaders to spread awareness via the Coalitions for Annuity Awareness in celebration of Annuity Awareness Month. The Coalition is comprised of industry associations that serve consumers by educating them about annuity products. NAIFA recognizes the importance of NAFA’s mission to spread awareness on annuities, making the partnership between our two organizations a natural fit. NAIFA, like NAFA, understands the role annuities play in today’s market. The significance these products have on Americans in an environment that has enabled people to live healthier, longer lives are invaluable. NAFA has worked tirelessly for more than a decade to have the month of June be well-recognized and respected as an Annuity Awareness month, a vision that is now materialized via the Coalition of Annuity Awareness.
Founded in 1998, NAFA’s mission is “to promote the awareness and understanding of fixed annuities. This is accomplished by educating annuity salespeople, regulators, legislators, journalists, and industry personnel about the value of fixed annuities and their benefits to consumers. NAFA’s membership represents every aspect of the fixed annuity marketplace, covering fixed annuities sold by independent agents, advisors, and brokers.”
With the pandemic still very much impacting today's economic environment, NAFA has found “growing number of individuals and families are turning to annuities to help provide security for their retirement. Specifically, many consumers are using annuities as a vital risk management tool to protect themselves against the possibility of outliving their financial resources.”
NAIFA’s work at the federal level in backing SECURE and SECURE 2.0 and their efforts at the state level in advocating for the adoption of the NAIC best interest annuity model have provided the opportunity to increase the awareness of annuities. “We are working to put more Americans on the pathway to financial security by first focusing on financial empowerment, which starts with access to financial education and income protection products such as annuities,” says Kevin Mayeux, CAE, CEO of NAIFA
It is both NAIFA’s goal and belief that by the end of June 2021, the Coalition for Annuity Awareness will have created an environment rich for the further development and acquisition of these products ultimately closing the coverage gap for more Americans.
NAIFA will also participate in, and invites all members to participate in, NAFA's upcoming Annuity Leadership Forum that will be held virtually June 15-17, 2021.