New York Life Insurance Co. has embarked on a new advertising campaign targeted toward wirehouse advisors, the company said Tuesday. At the heart of the campaign is the use of guaranteed income annuities for use in retirement planning, and the benefits such annuities can offer.
Steve Fisher, chief marketing officer for retirement income security, New York Life, said in a statement, “The campaign is meant to reinforce the thinking validated by academics, that income annuities are a valuable asset class for retirement portfolios. Our strategy is to extend the reach of New York Life and guaranteed lifetime income in the wirehouses and regional broker-dealer firms. The ad includes a call to action, suggesting that financial advisors rethink retirement income planning to include a guaranteed lifetime income stream.”
The campaign, which includes print and online advertising, directs advisors to a splash page at http://www.rethinkretirement4life.com. There they can fill out a form to request a PDF of the FRC (Financial Research Corp.) white paper titled “Income Annuities Improve Portfolio Outcomes in Retirement.”
The white paper, which was partially funded by New York Life, is an adjunct to the campaign, since it discusses the benefits of using income annuities as an asset class in a client’s overall portfolio. Both advertising banners and splash pages also promote New York Life as the No. 1 provider of income annuities. According to LIMRA statistics. it has held the top spot for the past five consecutive years.
Matt Grove, vice president in charge of guaranteed lifetime income, said in a statement, “This new campaign positions lifetime income annuities as an asset class within a portfolio and utilizes common investment concepts and terms to promote annuities. Including guaranteed income solutions has been shown to help improve outcomes in clients’ retirement portfolios.”