Once deemed 'tech laggards,' insurance carriers are now offering substantial salaries as they strive to catch up with the digital wave. Discover more about AI hiring and then stick around for four additional stories in this week's "The FIDx Five."
Soaring AI Roles
Carriers are scrambling to hire for AI jobs, despite few knowing exactly how they'll utilize the technology.
Source: Life Annuity Specialist, “Carriers Hire ‘On the Fly’ for AI Jobs That Have Six-Figure Salaries,” 6/5/23
Annuity Aversion?
The perceived loss of control is still steering some investors away from annuities in the current financial climate.
Source: FT Adviser, “Burrows: loss of control puts people off annuities,” 6/7/23
Mortality Table Makeover
The IRS debuts a long-awaited update to the annuity mortality table for the first time in a decade.
Source: Think Advisor, “IRS Makes Annuity Mortality Table Update, With a Smile,” 6/5/23
Leveraging GLWBs
Despite the low current adoption rate of in-plan annuities, alternatives like Guaranteed Lifetime Withdrawal Benefits are gaining traction.
Source: PLANADVISER, “Retirement Income Today: How Advisers Can Leverage GLWBs, 5/31/23
Fearing Financial Ruin Over Fatality
A startling revelation unveils a unique American fear—the dread of outliving their money outweighs the fear of death itself.
Source: Morningstar, “Americans are 'more afraid of running out of money than death',” 6/5/23
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