Reframing Annuities with Americans as a Solution to the Retirement Income Crisis
The Situation: America is approaching a retirement crisis. Many seniors will run out of money during their retirement and be unable to survive on Social Security alone. Pensions are no longer offered by employers or demanded by employees. The 401(K) plans that have replaced pensions are vulnerable to market corrections and leave those on the verge of retirement seriously exposed to risk. The need for protected lifetime income has never been greater, yet its role in retirement planning has been in a long decline. Misinformation and misperceptions about annuities have gone unanswered.
The Alliance elevated annuities as the sole sponsor of the Rolling Stones’ No Filter tour visiting 14 cities in two months
What We Did: Under one year, Statler Nagle set up the Alliance for Lifetime Income, a 501(c)(6) organization, and developed a campaign marketing strategy that is based on metrics. Over the past six years, the campaign has changed the conversation where now 9 out of 10 consumers want protection in their retirement plans. The non-profit 501(C)(6) is comprised of 24 members representing life insurance companies and asset managers, committed both philosophically and financially to making lifetime income an important part of the retirement discussion.
The Outcome: The campaign delivers education to move more consumers to look for information and ask their financial advisors about annuities. Simultaneously, it empowers financial advisors and other stakeholders to understand and discuss the new world of annuities with consumers. The retirement industry has committed over $120 million to this effort over six years.
