Consortia Studies: The Future of the VA Market

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Exploring the Future of the Variable Annuity Market

The annuity market has recently experienced record-breaking growth. The variable annuity (VA) market has undergone significant shifts in recent years due to changing consumer preferences, regulatory developments, and market dynamics.

Sales of traditional VAs have been declining for several years, while sales of registered index-linked annuities (RILA) have grown.

What is the future of the VA market, and what can carriers do to increase VA sales? What are financial professional opinions about VA products, what do they need from their carrier or distributor partners, and what will motivate advisors and distribution partners to sell more VAs?

Report Details

• Project Overview
  • Background
  • Traditional VA Sales Trends and Forecasts (Annual, Quarterly)
  • RILA Sales Trends and Forecasts (Annual, Quarterly)
  • Research Objectives
• Methodology
• Financial Professional Respondent Demographics
• Participating Distributors
• Key Findings
• Market Outlook and Sales Expectations
  • Experience with VA/RILA Product Sales
  • Top Three Carriers
  • Sales Expectations (Three Years, Five Years)
  • Reasons for Sales Changes
• Product Perceptions
  • Financial Professional and Distributor Opinions on VA/RILA Products
  • Factors Influencing Opinions
  • Client Perception Sentiments (by Product, by Channel)
• Drivers and Challenges
  • Important Product Criteria (Financial Professionals, Distributors)
  • Top Selling Points
  • Recommending Both Products
  • Challenges (Financial Professionals, Distributors, Clients)
  • Motivators for Increased Sales (Financial Professionals, Distributors)
  • Distributor Recommendations and Plans
• Areas of Opportunity for Product Manufacturers
  • Support and Education for Financial Professionals (by Channel)
  • Health/LTC/Medicare Planning
  • Technology and Customer Experience Support
  • Dedicated Service Teams
  • Improving the Sales Process
  • Supporting Distributors
• Implications And Considerations
  • Providing More Support and Education
  • Focus Areas: Education, Technology, Customer Experience, Income Message Simplification

Sample Details

• Distributors of VA products n = 8
• Financial Professionals n = 400
  • Median Age 44
  • 30% Female / 70% Male
  • Race/Ethnicity
    • 76% White or Caucasian
    • 12% Asian, Asian American, Pacific Islander, or Native American
    • 6% Black or African American
    • 4% Hispanic or Latino
    • 2% Other
  • Channel
    • 37% Affliated
    • 36% Independent
    • 27% Other
  • Annual Income
    • 44% $200,000 or more
    • 12% $150,000 to 199,999
    • 28% $100,000 to 149,999
    • 17% $50,000 to 99,999

Who Should Purchase this Study: Product, Distribution, and Strategy leaders who have responsibility over variable annuities and/or RILAs.