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Who Buys Annuities, and Why?
Survey identifies today's annuity buyer as fiscally conservative.

Market trends for today's senior citizens are changing almost as rapidly as the technology that companies use to serve senior markets. As a result, those firms need to stay current and regularly "take the temperature" of senior consumers.

Firms that sell annuities often rely on independent research firms to develop accurate profiles of current and prospective annuity customers. The Life Insurance Market Research Association (LIMRA) is one of the most respected of such independent firms.

LIMRA recently surveyed more than 1,000 annuity owners to find out how age, retirement status, income and investable assets relate to an annuity purchase. The survey also looked at annuity owners' relationships with their agents, their annuity know-how and their income and savings. Below are some key results.

Demographics

Annuity Purchase, Features and Service

Use of Annuity and Retirement Savings

Income Sources

Financial Products

"Deferred annuity owner: characteristics and attitudes (2003)," LIMRA International, 9/25/03. Excerpted with permission from Standard Insurance Company (OR).

Last Updated: 6/30/2004 11:27:00 PM