Nearly 9 in 10 buyers of traditional fixed annuities are happy with their purchase, new research reveals.
LIMRA, Windsor, Conn., published this finding in a summary of results from a survey of 1,200 consumers, age 40 or over, who purchased a retail deferred annuity within the past three years. The study was conducted in the third quarter of 2011.
The survey reveals that 86% of traditional fixed annuity buyers are satisfied with their deferred annuity purchase. Likewise, most buyers are variable annuities (75%) and indexed annuities (83%) are also satisfied with the purchases, the survey reveals.
LIMRA Assistant Vice President-Annuity Research Joseph Montminy observes that, of those who are satisfied, two-thirds of the VA households (61% for indexed and half for traditional fixed) own two or more annuities. The study also discloses that five of six deferred annuity buyers would recommend an annuity to their friends or family.