This is a challenging task, which is why nearly all VA sales arise from an assisted environment. Still, the NAVA initiatives to build awareness and raise credibility can only assist sales. The retirement income market received a good deal of airplay. According to some speakers, having enough retirement income will supplant having enough retirement savings as the primary concern among savers. Several speakers, though, mentioned the tension that is created when product features proliferate.
Additional features increase servicing costs and result in a more time-consuming sales process.
The industry is also concerned about aging demographics. Benmosche also noted that low-cost producers have an advantage in that they can pay more for distribution. Several industry leaders see small business qualified plans as an attractive target market. While a tax shelter within a tax shelter may seem redundant, proponents point to the benefits that annuities provide and maintain that costs are comparable to mutual fund investment programs when education and recordkeeping costs are taken into account.