In conjunction with Annuity Awareness Month,
new data says 80% of millennials surveyed are pursuing products
like annuities that offer opportunities for growth and
protection1
According to a recent study from Lincoln Financial Group (NYSE:
LNC), millennials under age 40, called “younger investors,” plan to
purchase insurance products within the next five years – and in
greater numbers than ever before.1 And, thanks to interest rates,
market volatility and student loan debt, younger investors are
looking to the future, with products like annuities to help ensure
protected lifetime income in their retirement.
Since the start of the Great Recession in 2008, annuity
ownership among millennials has increased significantly and has
continued to rise.2 Tim Seifert, senior vice president and head of
Retirement Solutions Distribution at Lincoln Financial
Distributors, said: “The unique life experiences of the millennial
generation have led people under age 40 to seek investment options
to help protect and grow their income. Additionally, these younger
investors are digitally savvy and accustomed to doing their own
research, giving Lincoln Financial the opportunity to connect with
and educate consumers in new and exciting ways.”
In recognition of Annuity Awareness Month, Lincoln Financial
shares how annuities can offer younger investors the growth
potential and downside protection they’re seeking, with optional
benefits and riders to custom-fit their unique retirement income
goals.
Ready, Set … Grow!
Annuities with additional cost benefits offer guaranteed growth
potential and provide investors with lifetime income they can use
to help maintain their lifestyle in retirement. This growth
potential is a key feature of annuities, with different options and
benefits to customize the growth that best suits the investor. Like
buying a car or house, these options allow them to select the
features that are most important and valuable to them.
A quarter of younger investors surveyed agree that an annuity is
a better option for growth opportunities in the current interest
rate environment than a savings account.2 Yet, only 12% were aware
of the opportunity for tax-deferred growth provided by an annuity.1
With an annuity, the buyer’s money can grow tax-deferred until it
is withdrawn, maximizing the investment’s growth potential.
The Power of Protection
The majority of millennials surveyed are most concerned about
volatility (61%) and market loss (63%).1 Annuities with benefits
can help ensure that retirement income is protected even when there
are downturns in the market – providing income protection is unlike
other insurance products.
Seifert continued, “Younger investors may have been affected by
financial loss first-hand, given the uncertainty of the last few
years and, before that, the market volatility during the Great
Recession. Through various product features including triggers,
annuities offer protection against loss during periods of market
uncertainty, and opportunities for growth during rebounds.”
Visit the Lincoln Financial Newsroom for more educational
content throughout Annuity Awareness Month.
Lincoln Financial offers a broad and innovative portfolio of
annuity solutions, which were recognized in 2021 by Barron’s for
the fifth consecutive year in its “The 100 Best Annuities for
Today’s Market” feature.
About Lincoln Financial Group
Lincoln Financial Group provides advice and solutions that help
people take charge of their financial lives with confidence and
optimism. Today, approximately 16 million customers trust our
retirement, insurance and wealth protection expertise to help
address their lifestyle, savings and income goals, and guard
against long-term care expenses. Headquartered in Radnor,
Pennsylvania, Lincoln Financial Group is the marketing name for
Lincoln National Corporation (NYSE: LNC) and its affiliates. The
company had $308 billion in end-of-period account values as of
March 31, 2022. Lincoln Financial Group is a committed corporate
citizen included on major sustainability indices including the Dow
Jones Sustainability Index North America and FTSE4Good and ranks
among Newsweek’s Most Responsible Companies. Dedicated to
diversity, equity and inclusion, we are included on transparency
benchmarking tools such as the Corporate Equality Index, the
Disability Equality Index and the Bloomberg Gender-Equality Index.
Committed to providing our employees with flexible work
arrangements, we were named to FlexJobs’ list of the Top 100
Companies to Watch for Remote Jobs in 2022. With a long and rich
legacy of acting ethically, telling the truth and speaking up for
what is right, Lincoln was recognized as one of Ethisphere’s 2022
World’s Most Ethical Companies®. Learn more at:
www.LincolnFinancial.com. Follow us on Facebook, Twitter, LinkedIn,
and Instagram. Sign up for email alerts at
http://newsroom.lfg.com.
Important Information:
Lincoln Financial Group® affiliates, their distributors, and
their respective employees, representatives, and/or insurance
agents do not provide tax, accounting, or legal advice. Please
consult an independent professional as to any tax, accounting, or
legal statements made herein.
Annuities are long-term investment products designed for
retirement purposes and are subject to market fluctuation,
investment risk, and possible loss of principal.
Lincoln annuities are issued by The Lincoln National Life
Insurance Company, Fort Wayne, IN, and contracts sold in New York
are issued by Lincoln Life & Annuity Company of New York,
Syracuse, NY; distributed by Lincoln Financial Distributors, Inc.,
a broker-dealer. The Lincoln National Life Insurance Company
does not solicit business in the state of New York, nor is it
authorized to do so.
All contract and rider guarantees, including those for
optional benefits, fixed subaccount crediting rates, or annuity
payout rates, are subject to the claims-paying ability of the
issuing insurance company. They are not backed by the
broker-dealer or insurance agency from which this annuity is
purchased, or any affiliates of those entities other than the
issuing company affiliates, and none makes any representations or
guarantees regarding the claims-paying ability of the issuer.
There is no additional tax-deferral benefit for an annuity
contract purchased in an IRA or other tax-qualified plan.
Lincoln Financial Group is the marketing name for Lincoln
National Corporation and insurance company affiliates, including
The Lincoln National Life Insurance Company, Fort Wayne, IN, and in
New York, Lincoln Life & Annuity Company of New York, Syracuse,
NY. Variable products distributed by broker-dealer/affiliate
Lincoln Financial Distributors, Inc., Radnor, PA. Securities and
investment advisory services offered through other affiliates.
© 2022 Lincoln National Corporation. All rights reserved.
LCN-4754571-052222
_______________________ 1 Consumer Insights, Lincoln Financial
Group, April 2022. 2 Understanding the Younger Annuity Buyer &
Purchase Experience, Lincoln Financial Group, November 2021.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220601005444/en/
Media: Sarah Boxler Sarah.Boxler@lfg.com
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