MINNEAPOLIS–(BUSINESS WIRE)–Allianz Life Insurance Company of North America (Allianz Life) today launched The ABCs of Annuities, a new animated three-video series that demystifies today’s annuities. Each three- to five-minute segment explores a separate topic: Retirement Realities, Annuity Basics, and Annuity Myths and Truths. The animated videos address why it’s important to take an active role in planning for retirement, how annuities can fit into a well-rounded retirement plan and how today’s annuities have evolved from those in the past.
“The economic downturn of 2008 caused a major shift in many people’s attitudes and finances”
“The economic downturn of 2008 caused a major shift in many people’s attitudes and finances,” said Katie Libbe, Vice President of Consumer Insights at Allianz Life. “As we discovered in the Allianz Life Reclaiming the Future study, many baby boomers lost money and are aware—and scared—of the risk of outliving their money. They now desire safety, security, and predictability over growth. In other words, they want what annuities can offer.
“This desire was again confirmed in our recent refresh of Reclaiming the Future* where for the second year in a row, boomers by nearly a 4 to 1 margin remain more attracted to guarantees for their retirement savings versus potential high returns with market risk.”
Shrouded in Misperceptions
Unfortunately, according to Libbe, annuities face a number of misperceptions. More than half of the respondents in the Allianz Life study expressed distaste for the word “annuity”—even after describing an annuity-like product as their ideal financial vehicle. Moreover, annuities continue to be seen as very confusing, and many people admitted their opinions were formed 10 to 20 years ago, and that they hadn’t researched annuities since.
Said Libbe, “As a direct result of what we learned from Reclaiming the Future, we invested in the The ABCs of Annuities series to help us educate consumers on the benefits of today’s annuities while debunking outdated, and often incorrect, perceptions. Other available educational vehicles are often complicated, boring or too product-specific. We want to prevent people from tuning out when they hear the word ‘annuity’—and we feel that this series can help change that. We deliberately designed the videos to be educational and entertaining.”
To access The ABCs of Annuities, visit www.allianzlife.com/GetInformed/ABC_Annuities.aspx.
About Allianz Life
Allianz Life Insurance Company of North America has been keeping its promises since 1896. Today, it carries on that tradition, helping Americans achieve their retirement income goals with a variety of annuities and life insurance products. As a leading provider of fixed index annuities, Allianz Life is part of Allianz SE, a global leader in the financial services industry with nearly 155,000 employees worldwide. Based on its revenue, Allianz SE is the 20th largest company in the world (Fortune Global 500, August 2010).
*Reclaiming the Future: “One Year Later” Pulse Survey, April 2011
Allianz Life Insurance Company of North America offers insurance and annuities in all states except New York. In New York, products are issued by Allianz Life Insurance Company of New York, New York, NY.