June is one of my favorite months of the year, and not just because summer weather is perfect for golfing. It’s also Annuity Awareness Month! Much of my work is dedicated to spreading the word about how annuities are a key part of an optimal retirement plan. I’ve been happy to see that annuities have been growing in popularity over the last few years. According to LIMRA, in 2020 alone, annuity sales totaled over $219 billion, with variable annuities being the most popular choice. I’m a fan of variable annuities myself, so I thought I’d take some time to look at some reasons why they’re such big sellers.

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.

NAIFA member Richard Demko offers his insight and expertise in a Best’s Review article on how COVID-19 could impact life insurance underwriting. He is a life insurance expert who is Past President of NAIFA’s Houston chapter and a 2020 recipient of NAIFA’s Four Under 40 Award, presented by Advisor Today. He is also the Director of Insurance at Centric Advisors, a NAIFA 100% Agency.

As we enter Q2 of 2021, COVID-19 continues to take an unimaginable toll across America and around the world. The pandemic has heightened people’s anxieties around their physical, emotional, and financial health. NAIFA has partnered with Life Happens and LIMRA in promotion of their Help Protect Our Families campaign, a national effort to shed light on Americans who are at risk due to lack of appropriate insurance and financial guidance.

NAIFA has partnered with six other trade groups in the insurance and financial services space to provide content for the Help Protect Our Families program. The program is designed to help insurance carriers and distribution partners understand the increased need for life insurance products by American families, particularly in light of the COVID-19 pandemic.

It is not too early to start preparing for the 2021 Insure Your Love Campaign. Life Happens will launch February’s Insure Your Love (IYL) campaign during the “month of love” because the basic motivation behind the purchase of life insurance is love.

2020 has provided some of the best examples of the power of permanent life insurance. In this Advisor Today article, David Szeremet, with Ohio National, shares a few of the ways in which your clients can leverage the power of permanent life insurance to address a wide range of financial challenges.

Hybrid life insurance policies with long-term-care benefits can be an important part of a limited and extended care plan for many consumers, Jon Voegele, MBA, ChFC, CLU, chair of Life Happens and a long-time NAIFA member told journalist Cameron Huddleston for an article in Forbes magazine.

Broker-dealers that have approved NAIFA’s Life and Annuities Certified Professional (LACP) certification for use by their representatives rank among the top B-D firms in the country. Mass Mutual’s MML Investors Services, Cambridge Investment Research, Royal Alliance Associates, SagePoint Financial, Woodbury Financial Services, FSC Securities, and Principal Securities are all among the leaders in Financial Advisor magazine’s B-D ranking and Think Advisor’s Broker-Dealer Reference Guide. Combined, the firms have more than 20,000 producing representatives eligible to apply for LACP certification.

June is Annuity Awareness Month, a 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.