Pleasant Hill, Iowa – June 4th, 2015– The Society for Annuity Facts & Education (SAFE), a nonprofit with the aim of educating consumers about annuities, joins the Coalition for Annuity Awareness for the second annual National Annuity Awareness Month in June.
Research indicates that 52% of workers have less than $10,000 saved and only 18 percent of working Americans feel very confident about having enough money to live comfortably throughout their retirement years.1 Because annuities offer consumers a way to create predictable guaranteed income payments they cannot outlive, these products have the ability to play a critical role in retirement for individuals in all income brackets.
During the month of June, SAFE and fellow trade associations will provide educational material, webcasts and social media communications to help educate financial professionals and the public. These communications are being distributed to stress the important role annuity products play in helping Americans save for retirement, as part of a secure retirement savings plan. An array of educational resources and awareness tools will available to help educate consumers throughout the month.
The Coalition recently launched AnnuRetirement.com, an impartial, informative website comprised of positive and accurate messages regarding the features and benefits of annuities, available free to the public.
“We want to have agents get some skin in the game too when it comes to National Annuity Awareness Month! The idea is to take the message viral and that’s something that agents can really help with,” said Sheryl J. Moore, SAFE’s current President and CEO of Moore Market Intelligence.
“What that means for agents is that consumers are better-informed before they get into a conversation about these products with an agent or a financial advisor,” she said.
As part of the Coalition’s national outreach, they are working with governors across the country to declare Annuity Awareness Month in each state. Coalition members prepared two mailings that went out to governors of each of the 50 states, the District of Columbia and the four U.S. territories. These packets included NAFA’s “We Love Fixed Annuities” flier, a sample of the preferred proclamation language, and a letter highlighting the need for education and awareness of the features and benefits of annuities for consumers, elected officials and industry professionals alike. In addition to working with those states that responded to the mailings, Coalition members are submitting requests online to various other governors.
On May 28th, 2015 Ms. Moore accepted Iowa’s proclamation that June be recognized as “Annuity Awareness Month.” The proclamation signing was held at a formal ceremony in the Iowa state capitol, with Governor Terry Branstad.
Iowa became the first state to proclaim June as National Annuity Awareness Month. With so many carriers, IMOs, distribution and insurance support businesses located in the state, it is fitting to have Iowa helping lead the Annuity Awareness Month charge. Meanwhile, as Iowa continues to pioneer progress in the insurance industry, we hope that many other states will follow suit.
ABOUT THE SOCIETY FOR ANNUITY FACTS & EDUCATION:
The Society for Annuity Facts & Education, Inc., is an educational, charitable, nonprofit, non-stock corporation. Under SAFE’s 501(c)3 status, SAFE will serve as a resource for consumers, members of the media, and insurance companies as it embarks on its mission to educate and raise overall awareness of annuity products.
SAFE believes that it’s critically important to provide easy-to-understand, unbiased, comprehensive information about annuity products. In doing so, assists consumers in making informed decisions.
For more information visit: www.annuityed.org
ABOUT THE COALITION FOR ANNUITY AWARENESS:
The Coalition for Annuity Awareness is comprised of industry associations who serve consumers by helping them understand annuity products. As today’s challenging economic environment continues to evolve, a growing number of individuals and families are turning to annuities to help provide security for their retirement. Specifically, many consumers are using annuities as a vital risk management tool to protect themselves against the possibility of outliving their financial resources. Annuities are unique among financial products in the marketplace because they can provide retirees with a guaranteed lifetime income stream.
For more information visit: www.AnnuRetirement.com
1 Employee Benefit Research Institute 2014 Retirement Confidence Survey, issued March 2014.