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WASHINGTON, D.C. — Representative Zach Nunn (IA-03) introduced a bipartisan resolution recognizing June as National Annuity Awareness Month. The resolution, co-led by U.S. Representative Brittany Pettersen (CO-07), highlights the critical role annuities play in securing retirement stability for millions of Americans.
“Annuities offer hardworking Iowans a reliable way to protect their retirement and maintain financial independence,” said Rep. Nunn. “By recognizing June as National Annuity Awareness Month, we are helping more Americans understand their options and make informed financial decisions that support long-term stability.”
Nearly 90 million U.S. households rely on life insurance and annuity benefits for financial security. In 2023 alone, life insurance companies distributed $89.4 billion in benefits and a record $104.1 billion in annuity payouts, providing a lifeline for families, retirees, and small businesses. As more Americans near retirement age, access to reliable insurance products is becoming essential to ensure peace of mind and protect lifetime savings.
“Facing myriad financial risks in retirement, consumers are looking for opportunities to ensure they don’t outlive their assets. Annuities provide a unique combination of protection, growth and predictable lifetime income, helping Main Street Americans enjoy a more secure financial future,” said Chuck DiVencenzo, National Association for Fixed Annuities CEO. “We’re immensely grateful to Rep. Nunn (R-IA) and Rep. Pettersen (D-CO) for recognizing the importance of declaring June as National Annuity Awareness Month and introducing a resolution to encourage increased education and awareness about the value annuities can play in accumulation, income and legacy planning.”
Des Moines serves as a national hub for annuities, with companies like Principal Financial Group and F&G Annuities & Life headquartered in Iowa. The life insurance and annuity industry in Iowa employs over 17,000 Iowans and is projected to reach $54.3 billion by 2025. The resolution encourages consumers to learn more about annuity products and seek professional guidance in planning for their financial future.
Text of the resolution can be found here.
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