Choosing the Best Insurance Marketing Organization
Over my 20-plus year career in the financial services industry, I’ve had the opportunity to see the industry grow and evolve in so many ways. For example:
- In the late 1990s, I saw variable annuities (VAs) become a popular retirement and investment vehicle.
- In the 2000s there was tremendous growth and innovation in exchange traded funds (ETFs). And in the world of annuities, I saw the creation of withdrawal benefit and lifetime income benefit riders that fueled the expansion of the variable annuity marketplace.
- Since the financial crisis of 2008, there has been a convergence between variable annuities and fixed indexed annuities (FIAs). The annuity industry has seen a steady decline in VA market share while, at the same time, a steady increase in FIA market share. There are numerous factors that contributed to these trends. For starters, an aging retiree population that prefers guarantees over growth potential. Innovation in FIA-crediting strategies and living benefit riders, along with FIAs gaining wider acceptance also play a role.