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More annuity providers reaching out to consumers

Posted On Mon, April 9, 2012

With more Americans entering retirement age than ever before, retirement insurance companies are taking action, according to a report from Mintel Comperemedia.

The volume of direct mail information regarding single premium immediate annuities increased 18 percent in 2011 compared to the previous year's figure. This may be due to a heightened interest from consumers to receive a steady flow of income during retirement, especially if they were not successful in saving up during their working lives, the report noted. Approximately two-thirds of Americans have a retirement portfolio, but fewer than 15 percent had an annuity as a primary retirement account.

"Only a small number of companies are marketing SPIAs directly to consumers," said Gary Wooley, director, insurance consulting at Mintel Comperemedia. "The campaigns that resonate most with customers are ones that present SPIAs as stable, guaranteed income, free from the turbulence of the stock market."

Consumers concerned about their retirement may want to look into annuity insurance quotes. Adding one of these policies to a person's retirement plan could help them out significantly.

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