Please wait while the search results are loading...

Annuity Account Managers Create New Product Strategies, Business and Industry Trends Analysis

The Insured Retirement Institute (IRI) reported that, for the full year in 2021, industry-wide sales of annuities (both variable and fixed) reached $233.1 billion, up 12.3% over 2020’s $207.5 billion, compared to 2019’s $227.8 billion and 2018’s $218 billion.  The drop was due to the Coronavirus pandemic, which was very significant in the early months of 2020.  Annuities had soared after the Trump administration abolished fiduciary rules requiring brokers and insurers to consider their clients’ best interests above and beyond their own.
There are numerous types of annuity accounts, and their variations and complicated details are enough to confuse most consumers.  There are multiple styles of variable annuities that attempt to match the investor’s age, financial circumstances and tolerance for risk.  The investor may make deposits on a regular basis, such as monthly, or may make a large lump sum deposit when establishing the account.  The account’s earnings are income tax-deferred until the investor begins withdrawing money.
A simple annuity grows at a stated range of rate of return offered by the insurance company.  The insurance firm takes all of the market risk.  This is a good bet for retirees who are looking to create a permanent stream of income.
A variable annuity, in contrast, is an annuity funded by a separate account that invests in mutual funds, bonds or the stock market, at the policyholder’s direction.  The annuity’s value rises and falls with that of the underlying portfolio securities.  Investors who feel they can get superior returns from the stocks and funds held by the account may prefer this very popular type of annuity.  However, the investor assumes the market risk and often pays high management or sales fees.  Styles of variable annuities include those that are pegged to a particular stock market index, such as the S&P 500.  “Target-Date” accounts, also called “life-cycle funds,” are turned over to professional money managers who automatically balance the underlying investments based on the investor’s age (the assumption being that the older the investor becomes the lower the level of risk that should be assumed).  “Target-Risk” accounts are invested based on the investor’s tolerance for risk.
The biggest players in the U.S. variable annuity business include TIAA-CREF, Hartford Financial and Pacific Life.  Most major annuity firms have been working to improve their products and services.  They are managing the practices of sales forces more carefully, striving to make annuity products match the needs of a wide variety of consumers and taking care to make the risks, costs and features of annuity accounts more readily understandable.  Fidelity Investments, for example, offers a variable annuity with no extra benefits or guarantees that charges as little as 0.25% in annual fees.  As more annuity options become available on the market, investors are switching old, higher-fee contracts for new ones that cost less.
Another insurance-based investment option is a personal pension.  As more employers phase out pension plans, firms such as New York Life Insurance are offering pension products that are based on annuities.  Like most annuities, personal pension plans carry heavy penalties for early withdrawal.
As life expectancies increase, insurers in the U.S. and around the world are looking to expand their annuity business.  French insurer AXA Group, for example, established “risk labs” in Paris and New York to study longevity and its relationship to financial markets.  The markets in Europe, Japan and the U.S. are especially ripe for future annuity sales due to rapid growth in the senior population segments.

A Representative List of Organizations that Have Used our Research and Products:


I’m amazed at how much information is available and the various ways to access it. This will be a major resource for our serious job seekers.

Career Services, Penn State University

Plunkett Research Online provides a great ‘one stop shop’ for us to quickly come up to speed on major industries. It provides us with an overall analysis of the market, key statistics, and overviews of the major players in the industry in an online service that is fast, easy to navigate, and reliable.

Wendy Stotts, Manager, Carlson Companies

I really appreciate the depth you were able to get to so quickly (for our project). The team has looked through the material and are very happy with the data you pulled together.

Hilton Worldwide, Marketing Manager

We are especially trying to push Plunkett since all of our students have to do so much industry research and your interface is so easy to use.

Library Services, St. John’s College

We are especially trying to push Plunkett’s since all of our students have to do so much industry research and your interface is so easy to use.

Gary White, Business Materials Selector, Penn State University

Your tool is very comprehensive and immensely useful. The vertical marketing tool is very helpful, for it assists us in that venue, as well as targeting customers’ competition for new sales…The comprehensive material is absolutely fabulous. I am very impressed, I have to say!

Tammy Dalton, National Account Manager, MCI

The more I get into the database, the happier I am that we’ll have it–REALLY happy!!! Between the quality and affordability of your product, its appeal to and value for our users, and the inestimably ethical and loyalty-guaranteeing conduct of your business, I will always have more than sufficient praises to sing for Plunkett Research.

Michael Oppenheim, Collections & Reference Services, UCLA

Plunkett Research Online is an excellent resource…the database contains a wealth of useful data on sectors and companies, which is easy to search and well presented. Help and advice on how to conduct, export and save searches is available at all stages.

Penny Crossland, Editor, VIP Magazine
Real Time Web Analytics