A new survey from the Retirement Income Industry Association found clients and advisors would benefit from receiving more information about their existing immediate income annuity contracts.
One of the most pressing concerns is that when an income guarantee is purchased, information about the money that is annuitized literally disappears from any consolidated statements that either the client or advisor receives, according to Gary Baker, president of CANNEX USA and the Chair of the RIIA Income Annuity Standards and Readiness Working Committee.
One of the responsibilities of the RIIA Working Committee is to address business barriers to income annuity growth.
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