RADNOR, Pa.–(BUSINESS WIRE)–According to a latest examine from Lincoln Financial Group (NYSE: LNC), millennials underneath age 40, known as “youthful traders,” plan to buy insurance coverage merchandise throughout the subsequent 5 years – and in larger numbers than ever earlier than.1 And, thanks to rates of interest, market volatility and scholar mortgage debt, youthful traders are wanting to the long run, with merchandise like annuities to assist guarantee protected lifetime earnings of their retirement.
Since the beginning of the Great Recession in 2008, annuity possession amongst millennials has elevated considerably and has continued to rise.2 Tim Seifert, senior vp and head of Retirement Solutions Distribution at Lincoln Financial Distributors, mentioned: “The distinctive life experiences of the millennial technology have led individuals underneath age 40 to search funding choices to assist shield and develop their earnings. Additionally, these youthful traders are digitally savvy and accustomed to doing their very own analysis, giving Lincoln Financial the chance to join with and educate shoppers in new and thrilling methods.”
In recognition of Annuity Awareness Month, Lincoln Financial shares how annuities can provide youthful traders the expansion potential and draw back safety they’re looking for, with non-compulsory advantages and riders to custom-fit their distinctive retirement earnings targets.
Ready, Set … Grow!
Annuities with extra value advantages provide assured progress potential and present traders with lifetime earnings they’ll use to assist keep their life-style in retirement. This progress potential is a key function of annuities, with totally different choices and advantages to customise the expansion that most closely fits the investor. Like shopping for a automobile or home, these choices permit them to choose the options which might be most necessary and useful to them.
1 / 4 of youthful traders surveyed agree that an annuity is a greater possibility for progress alternatives within the present rate of interest atmosphere than a financial savings account.2 Yet, solely 12% had been conscious of the chance for tax-deferred progress offered by an annuity.1 With an annuity, the client’s cash can develop tax-deferred till it’s withdrawn, maximizing the funding’s progress potential.
The Power of Protection
The majority of millennials surveyed are most involved about volatility (61%) and market loss (63%).1 Annuities with advantages might help be sure that retirement earnings is protected even when there are downturns out there – offering earnings safety is not like different insurance coverage merchandise.
Seifert continued, “Younger traders could have been affected by monetary loss first-hand, given the uncertainty of the previous couple of years and, earlier than that, the market volatility in the course of the Great Recession. Through numerous product options together with triggers, annuities provide safety in opposition to loss during times of market uncertainty, and alternatives for progress throughout rebounds.”
Visit the Lincoln Financial Newsroom for extra academic content material all through Annuity Awareness Month.
Lincoln Financial gives a broad and progressive portfolio of annuity options, which had been acknowledged in 2021 by Barron’s for the fifth consecutive 12 months in its “The 100 Best Annuities for Today’s Market” function.
About Lincoln Financial Group
Lincoln Financial Group supplies recommendation and options that assist individuals take cost of their monetary lives with confidence and optimism. Today, roughly 16 million prospects belief our retirement, insurance coverage and wealth safety experience to assist deal with their life-style, financial savings and earnings targets, and guard in opposition to long-term care bills. Headquartered in Radnor, Pennsylvania, Lincoln Financial Group is the advertising and marketing title for Lincoln National Corporation (NYSE: LNC) and its associates. The firm had $308 billion in end-of-period account values as of March 31, 2022. Lincoln Financial Group is a dedicated company citizen included on main sustainability indices together with the Dow Jones Sustainability Index North America and FTSE4Good and ranks amongst Newsweek’s Most Responsible Companies. Dedicated to range, fairness and inclusion, we’re included on transparency benchmarking instruments such because the Corporate Equality Index, the Disability Equality Index and the Bloomberg Gender-Equality Index. Committed to offering our staff with versatile work preparations, we had been named to FlexJobs’ record of the Top 100 Companies to Watch for Remote Jobs in 2022. With a protracted and wealthy legacy of performing ethically, telling the reality and talking up for what is correct, Lincoln was acknowledged as considered one of Ethisphere’s 2022 World’s Most Ethical Companies®. Learn extra at: www.LincolnFinancial.com. Follow us on Facebook, Twitter, LinkedIn, and Instagram. Sign up for e mail alerts at http://newsroom.lfg.com.
Important Information:
Lincoln Financial Group® associates, their distributors, and their respective staff, representatives, and/or insurance coverage brokers don’t present tax, accounting, or authorized recommendation. Please seek the advice of an unbiased skilled as to any tax, accounting, or authorized statements made herein.
Annuities are long-term funding merchandise designed for retirement functions and are topic to market fluctuation, funding danger, and attainable lack of principal.
Lincoln annuities are issued by The Lincoln National Life Insurance Company, Fort Wayne, IN, and contracts offered in New York are issued by Lincoln Life & Annuity Company of New York, Syracuse, NY; distributed by Lincoln Financial Distributors, Inc., a broker-dealer. The Lincoln National Life Insurance Company doesn’t solicit enterprise within the state of New York, neither is it approved to achieve this.
All contract and rider ensures, together with these for non-compulsory advantages, mounted subaccount crediting charges, or annuity payout charges, are topic to the claims-paying capacity of the issuing insurance coverage firm. They will not be backed by the broker-dealer or insurance coverage company from which this annuity is bought, or any associates of these entities apart from the issuing firm associates, and none makes any representations or ensures relating to the claims-paying capacity of the issuer.
There is not any extra tax-deferral profit for an annuity contract bought in an IRA or different tax-qualified plan.
Lincoln Financial Group is the advertising and marketing title for Lincoln National Corporation and insurance coverage firm associates, together with The Lincoln National Life Insurance Company, Fort Wayne, IN, and in New York, Lincoln Life & Annuity Company of New York, Syracuse, NY. Variable merchandise distributed by broker-dealer/affiliate Lincoln Financial Distributors, Inc., Radnor, PA. Securities and funding advisory providers supplied via different associates.
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1 Consumer Insights, Lincoln Financial Group, April 2022.
2 Understanding the Younger Annuity Buyer & Purchase Experience, Lincoln Financial Group, November 2021.
https://www.businesswire.com/news/home/20220601005444/en/Millennials-Are-Hungry-for-Growth-and-Protection-Potential-According-to-Lincoln-Financial-Group
