Submitted by Anonymous on
Metlife is one of several insurance companies offering a longevity insurance product.
Metlife was one of the first--if not the first--companies that came to market with a longevity annuity. This took place initially in the defined contribution space and now includes a retail offering.
The Longevity Income Guarantee is Metlife's retail longevity insurance offering.
Metlife seems to be doing a very good job communicating the value propositon of the longevity annuity.
For example, the sales material for the Longevity Income Guarantee does a good job explaining that one of the fundamental reasons to consider a longevity annuity involves the fact that these products can increase the level of sustainable lifetime income that can be generated from a portfolio of assets.
Second, Metlife provides quarterly statements with their longevity insurance product. The statements show how the annuity currently translates into future lifetime income. While this type of communication might seem minor, it is hugely important with products such as the longevity annuity that have lifespans exceeding decades. Financial services consumers need to stay engaged and overcome the natural behavioral hurdles that can impede adoption of these products.
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