AnnuityAdvantage Celebrates 15 Years of Helping Retirees and Pre-retirees Make Informed Annuity Purchase Decisions, Enjoy Better Quality of Life
Published: June 10, 2014
Categories: Fixed Annuities, Press Releases
MEDFORD, Ore., June 10, 2014 /PRNewswire/ — Looking back at fifteen years of success stories, the Annuity Specialists at AnnuityAdvantage (https://www.annuityadvantage.com) have been witnesses to profound changes within the industry. Many of these changes stem from the revolutionary speed with which Internet and communications technology has quite literally redrawn the map of what’s possible. This year, the company plans to introduce some changes of its own, including a new logo, new slogan, and fully redesigned website.
The answer to the question “Who’s online?” is much different today than it was when AnnuityAdvantage was just getting started. At the turn of the century, only about 13% of seniors were routinely on the Internet. Today, that number stands at 57%. Perhaps more importantly, 88% of those aged 50 to 64 – the demographic “sweet spot” for many of AnnuityAdvantage’s services – are now online.
As an effect of more people being online, confidence in online transactions and online commerce in general has steadily increased. In 1999, when Ken Nuss founded AnnuityAdvantage, ecommerce represented far less than 1% of total retail sales. Amazon.com was still a niche market, odd as that sounds. Fewer than 1 in 5 people had tested the waters of online banking. As of 2013, ecommerce had grown to more than 5% of retails sales, and 60% of consumers banked online. Plus, with smartphones now saturating every corner of the nation, 1 in 3 people have adopted mobile banking.
Together, the facts of more people online and more of those people conducting financial business online mean continued healthy growth for AnnuityAdvantage. Within the fixed annuities market, more specific changes over the last 15 years have significantly altered the buying experience. For instance, interest rates on 10-year Treasury Notes have been cut in half, plummeting from 5 or 6% to only 2.5 to 3%.
While interest rates have gone down, the paperwork requirements for buying fixed annuities have ballooned. What was once only a one- or two-page annuity application can now run to 20 pages or more. This phenomenon is due to increased regulatory scrutiny, along with parts of major legislation, such as the Patriot Act and Dodd Frank. These new regulations are all designed to protect consumers and sellers, but sometimes the volume of paperwork can feel overwhelming.
Later this year, AnnuityAdvantage will roll out an entirely redesigned website that emphasizes user friendliness and easier navigation, along with new tools and calculators. The company will also unveil a new logo and a new slogan. All of these changes are intended to improve the user’s experience and allow AnnuityAdvantage to continue delivering the same unequalled service and client-centered, professional advice that it has throughout its first 15 years.
Founded in 1999 by veteran financial and retirement planner Ken Nuss, AnnuityAdvantage is a leading online provider of fixed-rate, equity-indexed, and immediate income annuities. Consumers planning for retirement have come to rely on AnnuityAdvantage for individualized, expert recommendations and guaranteed, high-value annuity products that have been thoroughly screened by Nuss and his staff. The company’s client-centered approach allows consumers to find the best mix of annuity products for their unique needs from the hundreds of annuities available through AnnuityAdvantage. There are no fees for the service.
Nuss is an active member of the National Association of Insurance and Financial Advisors (NAIFA), the National Association for Fixed Annuities (NAFA), and the National Ethics Association (NEA). He holds an Oregon insurance consulting license, along with an individual producer license in all 50 states and the District of Columbia.
Learn more at https://www.annuityadvantage.com or call 800-239-0356.
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