Despite the growth in indexed annuity sales, complaints against the product have significantly decreased since 2010, according to data recently released by the National Association of Insurance Commissioners (NAIC). What’s more, a recent LIMRA study found that 83% of indexed annuity buyers were satisfied with their annuity purchase, and five in six would recommend annuities to family and friends.
The combination of rigorous regulation and oversight by state insurance regulators, which includes more effective suitability standards and industry-led improvements to agent training, have contributed to the decrease in customer complaints over time. Customers continue to recognize the many benefits of the product, including protection from stock market volatility, guaranteed interest and income, and additional interest when markets are up.
To learn more about whether or not a fixed indexed annuity may be right for you, check out our newest educational video.