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LIMRA Launches New Tools to Help Life Insurers Adopt AI

"Whether developing AI in-house or with a vendor, these resources are designed to help companies make informed decisions regarding AI adoption, LIMRA said. These turnkey frameworks include comprehensive cost benefit analysis templates that can help leaders identify the potential benefits and risks of the various strategic paths when considering AI. [LIMRA's AI Governance Group (AIGG)] plans to release several more industry frameworks this year."  MORE >>

LIMRA Benchmarks In-Plan Guarantee Market for 2012

"As of December 2012, defined contribution (DC) in-plan guarantee assets totaled $2.2 billion ... 1.8 million participants currently have access to in-plan guarantees in their DC plans.... [M]ore than a third of Americans with DC plans would be interested in purchasing an in-plan guarantee product."

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LIMRA Predicts Retirement Income Opportunity Reaches $22 Trillion by 2020

"In 2010, U.S. households age 55+ held $12 trillion ... Based on U.S. Census projections, the assets held by this cohort will grow to $22 trillion that they will directly invest in products for generating retirement income. The number of Americans who receive income from an employment-based pension plan is on decline, and there will be many more retirees who will have most of their retirement assets invested in retirement plans. The study estimates that almost two-thirds of these assets will be directed towards products that will generate income for them in retirement."

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LIMRA Study Finds Most Small Businesses Do Not Offer Employee Benefits

"Only 47 percent of small businesses (2-99 employees) in the United States offer benefits to their employees, the lowest level in two decades of LIMRA research.... 78 percent of small businesses in the U.S. are family-owned. Family-owned firms experienced a sharper decline in benefit penetration between 2005 and 2012 than non-family-owned firms, with only 40 percent of these businesses offering insurance benefits in 2012 (compared with 47% in 2005)."

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'Gates Have Opened' for In-Plan Annuities, LIMRA Analyst Says

"Legislative changes, product development and an enthusiastic industry are opening the gates to annuity products inside retirement plans.... Complexity and availability remain the two biggest hurdles ... Thirty percent of advisors said the products are 'difficult for a sponsor to understand,' while another 28% said 'products are not available on all recordkeeping platforms.' Not surprisingly, better-educated advisors is a big key to connecting lifetime income products with eager plan participants."

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Most Employees Find Retirement Income Projections Helpful, According to LIMRA Survey

"Of those employees who found the retirement income estimates less than 'very helpful,' 45% said they did not understand the calculations behind the projections or were not confident in the accuracy of the results. Two in five said the information was too hypothetical, and 17% said the projections didn't capture all of their retirement savings."  MORE >>

Why People Buy Annuities: LIMRA Research that Examines the Motivations (PDF)

"Today, $400 billion is waiting to be rolled over from retirement funds. By 2015, that's expected to grow by 50 percent to $600 billion. A majority of those pension, IRA and 401(k) owners are not secure that their dollars will last their lifetime ... [A]fter planning and buying annuities, buyers were more confident about their retirement.... Buyers average around 60 years old -- 59 for [variable annuities], 60 for traditional fixed and 61 for indexed.... [A]bout one in four buyers were under 50 when they purchased their annuity."

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Workplace Benefits Face a New Environment in 2026

"LIMRA forecasts slower in‑force premium growth for life and disability products through 2028. Life insurance in‑force premium growth is expected to fall below historical averages, while long‑term and short‑term disability premiums should remain closer to recent norms.... Employers still need competitive benefits packages to attract and retain top talent. Workers increasingly value flexibility, well‑being, and financial security. Advances in technology -- from data analytics to AI -- are enabling more personalized benefit recommendations and communications."  MORE >>

Quarterly U.S. Retail Annuity Sales Top $120 Billion for the First Time

"Total U.S. annuity sales increased 5% to $121.2 billion in the third quarter of 2025, marking the eighth consecutive quarter of $100+ billion in sales and setting a new sales record. Year to date (YTD), annuity sales totaled $347.0 billion, up 4% year-over-year, according to LIMRA's U.S. Individual Annuity Sales Survey, which represents 92% of the total U.S. annuity market."  MORE >>

What Will It Take to Double Annuity Sales by 2030?

"[R]eframing the conversation -- from 'annuities' to 'protected income' -- has helped shift public perception. Consumers may not love the word 'annuity,' but they value guaranteed income and financial protection. Even younger investors are paying attention. LIMRA research shows that: Nearly 60% of emerging affluent investors (ages 25 -- 45) are familiar with annuities. 7 in 10 would consider converting savings into lifetime income."  MORE >>

Disability Insurance Awareness Month: Is Your Income Protected?

"[A recent LIMRA study found] more than half (51%) say they would rely on their personal savings should they lose the ability to earn an income, and ... more than a quarter (26%) would draw from their retirement savings accounts ... [J]ust 55% of employees can say definitively whether their employer even offers disability insurance, and less than half of workers say they have a strong understanding of these benefits."  MORE >>

Are In-Plan Annuities at a Tipping Point?

"In a LIMRA survey of private-sector plan sponsors with at least 10 full-time employees, almost half (49%) of those that do not offer an in-plan annuity in their DC plan say that they have considered adding one at some point. About 3 in 4 claim that they will make this decision within the next 12 months[.]"  MORE >>

Second Quarter Annuity Sales Shatter Record Set During the Great Recession

"Total U.S. annuity sales increased 22% to $77.5 billion in the second quarter ... This marks the highest quarterly sales ever recorded since LIMRA began tracking annuity sales and nearly $9 billion above the previous record set in fourth quarter 2008 during the Great Recession."

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Employers Expect to Shift Workplace Benefits Strategies to Lure Top Talent

"A recent LIMRA and EY joint study ... predicts nonmedical and nontraditional workplace benefits will grow 20% by 2026 due to heightened competition for workers and greater employee expectations.... Six in 10 employers believe employees will have greater influence over their company's benefit decisions in the next five years. According to the research, three-quarters of employers plan to modify their benefits packages in response to shifting employee demographics."

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Workplace Life, Disability and Supplemental Health Products Record Double-Digit Growth in Third Quarter 2021

"n a very competitive job market, employers recognize the need to offer a robust benefits package to attract and retain the best talent. [LIMRA] research suggests non-medical benefits to rise at least 20% over the next five years."

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Employers Pull Back on Popular Life Insurance Benefits

"As many as 108 million Americans have life insurance coverage through the workplace, compared with 102 million covered by individual life insurance ... It is the first time that more people are covered by workplace life insurance than by individual policies since LIMRA began tracking data in 1960, LIMRA researchers said.... Meanwhile, companies are cutting back on group life as rising health care costs erode budget allocations for other benefits, Potter said. Another reason for the retreat is that employers do not think their employees value this benefit, which analysts say is a misread."

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What Communications Do Employees Value Most When Selecting Their Benefits?

" 'Not surprisingly, more than 8 in 10 employees focus on the cost information,' said Kim Landry, insurance research analyst at LIMRA. 'In addition, 72 percent of employees will look at a detailed benefit plan description when one is available.' In terms of how they want to learn about benefit options, employees are most likely to use printed materials at work (83 percent) or home (76 percent). Accessing the information online (70 percent) and by email (61 percent) were used slightly less often."

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2014 Pension Buy-out Sales More than Double Previous Year

"Group pension buy-out sales reached $8.5 billion in 2014, [nearly] a 120 percent increase over the 2013 total of $3.8 billion ... 'After many years of staying in the $1 to $2 billion range, sales in the pension risk transfer buy-out market have eclipsed $3.5 billion for three consecutive years,' said Michael Ericson, analyst for LIMRA Secure Retirement Institute."

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Majority of Parents Provide Financial Support to Their Adult Children -- Less Available for Retirement Piggybank?

"A new LIMRA Secure Retirement Institute study finds that 6 in 10 American parents provide financial support to their adult children, which could undermine their retirement readiness.... 7 in 10 U.S. households with adult children have at least one adult child living at home. Nearly three quarters of households with adult children ages 18-22 have at least one adult child residing in their home."

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Total Annuity Sales Improve Eight Percent in Second Quarter 2014

"Total U.S. annuity sales reached $61.4 billion in second quarter, improving eight percent from prior year. In the first six months of 2014, total U.S. annuity sales increased 10 percent, compared with 2013. 'This is only the second time we have seen quarterly sales over $60 billion since the third quarter of 2011,' said Todd Giesing senior analyst, LIMRA Secure Retirement Institute Annuity Research. 'Despite declining interest rates during the first six months of this year, fixed annuity sales continue to drive overall annuity sales growth.'"

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