2007 Retirement Income Products Study

Summary Overview:

DSG's 8th Annual study on Retirement Income Products has expanded beyond last year's study to cover recent product innovation and changing perspectives on the retirement income market. Along with our mapping of the variable payout annuity "universe" and "Living Benefit" options, this year's study covers product design and innovation, marketing and distribution activities, and market trends. Also, to provide a more comprehensive picture, this year's Study included players drawn from the fixed annuity industry. As an enhancement to the survey results, the Study includes the findings from a select series of in depth interviews with executives at a variety of firms, including selected mutual fund companies, who are actively focused on the retirement income market opportunity.

Subscribers to this study will receive updated information on the current state of the Payout Annuity industry (fixed and variable); an examination of activities and trends within the retirement income market; a look at competitor products and strategies; and an understanding of relevant efforts within the financial services arena (including insurance companies, mutual funds, asset management firms, etc.) to provide alternative income solutions.

Project Details:

This annual study continues to evolve to keep pace with the ongoing changes in the retirement income market. This year's research has broadened its coverage of those products that are gaining ground in the retirement income market arena, including payout annuities, guaranteed living benefits, longevity insurance, life and annuity products with long term care riders, and mutual funds. Continuing from last year, the study takes a closer look at the perceptions and successful programs of companies that are actively building a business around the retirement income market.

The study consists of two separate, but complementary, research efforts: an industry survey and a series of in-depth executive interviews.

The survey was conducted primarily via an online survey and follow-up phone calls during the 2nd and 3rd quarters of 2007. The survey respondents included 43 targeted companies that are active in the retirement income market. In order to broaden our perspective of the overall retirement income industry, we have included in this year's survey a group of companies that are primarily "fixed only" product providers. Thus, for some of the analysis, survey participants were separated into 2 categories: the "Combo Group" of companies, which consists of those who offer both fixed and variable product solutions for retirement income needs, and the "Fixed Group" who use only fixed products (primarily SPIAs) to provide retirement income.

Interviews were conducted with 21 executives at companies that are involved in pursuing the retirement income market opportunity. The interviews were conducted from August through October, 2007. For the first time this year, interviews included a separate module of 7 mutual fund executives, reflecting the growing interest of the mutual fund companies in the retirement income market.

Prospectus:

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Table of Contents:

Project Deliverables:

The Study helps companies determine the state and direction of retirement income products and "benchmark" themselves against their competition.

The Report is composed in a PowerPoint format for ease of reviewing the results. The research findings and DSG's analysis provides an improved understanding of the retirement income product business, the field of issuers and areas of primary focus, discussion of key product design features, and an examination of the marketing and distribution practices of participating respondents. Also included is a comparison with findings from previous surveys and studies as well as the outlook for retirement income products, based on the interviews with industry leaders.

Information from individual respondent companies has been kept strictly confidential. The Retirement Income Product Survey Report consolidates the answers from respondents and the information is published on an aggregate basis.

A sample survey questionnaire and the interview guides, along with a more detailed description of the research methodology, are provided in the Appendix to the report.

Pricing:

Subscriptions to the Report covering the research results and DSG's analysis of the findings are available for $7,500. Study participants are eligible for subscriptions at a reduced rate.

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