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August 05, 2021 at 11:59 AM
What You Need to Know
- The Gen X survey participants were more likely than the others to say they were very familiar with annuity features.
- Most Gen X participants said retirement products should protect principal.
- The new results come just weeks after the Alliance for Lifetime Income and Cannex published data on Gen Xers' interest in annuities.
An annuity issuer has new evidence that members of Generation X might want annuities.
F&G came across the information when it organized a proprietary survey of Gen X, baby boomer and “silent generation” consumers.
The Pew Research Center has set the cut-offs at 1965 through 1980 for Gen X, 1946 through 1964 for baby boomers, and 1928 through 1945 for most of the silent generation.
The Gen X participants were interested in having retirement products that protect principal: 90% of those surveyed said 100% principal protection is a very or somewhat important retirement product feature, according to a summary of the results that F&G sent to ThinkAdvisor.
F&G also found evidence that Gen X participants at least think they have been paying attention to discussions about annuities: 24% of the Gen X survey participants said they knew annuity features well.
