At one time, Boomers expected to be the beneficiaries of a $41 billion wealth transfer from their parents’ generation, but it has not really happened, as the stock market crashed, folks lost their jobs, and the financial priorities of a senior generation turned from wealth transfer to self-preservation. Now the Millennials are coming into their own, and they are deeply skeptical that they’ll be the recipients of a big money transfer from their Boomer parents, especially since only 21 percent of Boomers surveyed are really interested in wealth transfer at all. (So that’s where all the life insurance sales went!) The funny thing is despite this, Millennials are more than twice as interested in wealth transfer as Boomers are. Time to start selling to the kids.
Some wonder what patients could really do with the information.
American Financial Group Inc. has decided to change the way it reports on the performance of its Great American Life Insurance Company annuity operations,…
The ads spread the idea that lifetime annuity income never runs out.
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