Growing the Variable Annuity Market: Global Challenges : Market Research Report

Growing the Variable Annuity Market: Global Challenges

Published by: TowerGroup

Published: Mar. 31, 2008 - 10 Pages

Report Coverage
The Retirement Landscape: Exhibit 1 US Consumers' Invested Retirement Assets by Type (2000-07)
Variable Annuities Revealed: Exhibit 2 Annuity Suitability Fines by Firm (2005-08); Exhibit 3 Annuity Compliance Process Flow (2008)
New Markets for Variable Annuities: Exhibit 4 UK, Japanese, and US Retirement Market Opportunity by Generation Type (2008); Exhibit 5 Typical Insurance Company Distribution Network (2008)
The Global Problem of Insurance Product Suitability
Recommendations for Changing the Way Products Are Sold
Summary

Abstract

This TowerGroup Note examines the global need to address the issue of adequate lifetime retirement income. As governments recognize the inadequacy of current pension and annuity systems to meet retirees' need for lifetime income, pension and tax law reform to promote retirement savings is working its way around the globe. Seeking to capitalize on this new market opportunity, insurance companies are offering insured financial products to help investors meet their retirement income needs. By making changes in their business practices to improve the sales process and suitability screens, insurers will be able to capture and grow a larger slice of the retirement asset market.

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Growing the Variable Annuity Market: Global Challenges

Table of Contents

Abstract