A coalition of eight life insurers is working to promote indexed annuities in a new animated video aimed at consumers.
The group, the Indexed Annuity Leadership Council, has posted the video, “How to Tell FIA Facts From FIA Fiction,” on YouTube.org.
(Related: 5 FIA Facts to Communicate to Prospects)
The new IALC video is a sequel to other IALC indexed annuity videos, including “Get the Basics on Indexed Annuities,” which has attracted 129,000 views since it was first posted, in May 2012, and “Questions to Ask When Purchasing a Fixed Indexed Annuity,” which was posted in April 2013 and now has 53,000 views.
IALC uses animated graphics and music to convey the idea that only 9% of Americans are focusing on diversifying their retirement savings portfolio, and that many have the mistaken belief that any retirement account can generate guaranteed lifetime income.
IALC also takes aim at what it sees as indexed annuity myths, such as the idea that “FIAs are too complicated and have too many moving parts.”
IALC says that one in five Americans are already familiar with indexed annuities, and that almost half understand how the products can help provide income for life.
Insurers founded IALC in 2011.
The insurer members are American Equity Investment Life Insurance Company, Allianz Life Insurance of North America, Athene USA, Eagle Life Insurance Company, Midland National Life Insurance Company, National Life Group, Life Insurance Company of the Southwest and North American Company for Life and Health.
Jim Poolman, a former North Dakota insurance commissioner, is the group’s executive director.
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