9 in 10 Consumers Don’t Know About Life Insurance Companies’ Retirement Products

Insurance Products for RetirementAre you doing your job as a life insurance agent? I don’t mean making dials or selling policies, part of your job is also to educate your clients on the different products available for their retirement needs.

But, unfortunately it seems that this has slipped by the wayside as nearly 9 in 10 consumers worldwide have little or no awareness of the retirement products offered by life insurance companies, new research reveals.

According to Accenture, 62 percent of consumers have little awareness of retirement products offered by life insurance companies, while 24 percent are not aware at all and 24 percent stated that they have a “good awareness.”

Those who reported to have little to no awareness, 45 percent said it is because they have never received “simple information on retirement from any life insurer.”

This is a big deal because according to the study, 82 percent of consumers are concerned about their post-retirement finances.  Furthermore, 71 percent of consumers believe that government planning will not allow them to continue their current state of living following retirement.

In fact, 29 percent reported that they plan to invest in life insurance to address their retirement needs.

It’s important that all of National Agents Alliance team members take the time to educate your clients about annuities and other retirement products that are available to them. They are seeking options, so make sure you offer them the information in order to make an informed decision. Going above and beyond can mean repeat business and prompt them to seek your services when they are ready to make retirement plans.

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