Allianz Life has published new research suggesting that most retirement plan sponsors and participants are interested in products with guaranteed lifetime income options.  

According to the study, the majority of employees surveyed are concerned about their financial stability in retirement. Among participants in employer-sponsored plans, 73% would consider participating in a guaranteed income plan. Additionally, 64% report that economic uncertainty resulting from the COVID-19 pandemic has made a guaranteed income option more appealing. The study also showed that 77% of participants would have a more favorable view of their employer if they were provided a guaranteed income option.   

The National Association of Insurance and Financial Advisors collected responses from 1,071 agents and advisors, approximately 90% of whom are current NAIFA members, for the 2020 NAIFA Experience Survey. Respondents who are not members engaged with the association via the NAIFA web presence, social media, NAIFA webinars or other communications channels.

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