As companies have slowly moved their retirement plans from defined benefit pensions over to defined contribution plans, thereby shifting the risk onto individuals, they have gotten away from offering insured products to help protect employee assets.
The number of individuals who used the Internet to research individual insurance or annuity products rose more than 60 percent in the past six years, according to new research by LIMRA.
Investors are turning to low-cost options more and more, according to Cerulli's latest release of its annual coverage of retail investor product use in the U.S.