Article - 2 Min Read
5 Questions with Rutendo Mwaramba, Head of Strategy for Retail Annuities at New York Life.
By Retail Annuities Marketing
1. How is the current economic environment impacting the demand for annuities?
With all the market volatility, higher interest rates, and inflation concerns, it’s no surprise that more advisors are turning to annuities as a stable, and more predictable financial solution for their clients. People want peace of mind, and annuities offer lifetime income, downside risk management, and tax deferral benefits—all of which are especially valuable right now. We’re here to help advisors understand how to position these solutions effectively so they can help clients feel more secure about their financial future.
2. How are higher interest rates affecting annuity sales and product development?
Higher interest rates are a huge advantage for annuities right now because they allow us to offer better payout rates and greater accumulation potential. This means clients can lock in higher guaranteed income streams—a powerful value proposition. We’re actively working with advisors to educate them on these opportunities, while we further refine product features to fit the changing landscape.
3. How do New York Life annuity solutions stand out in this environment?
It comes down to three things: financial strength, a diverse product lineup, and unwavering support. We have the stability to offer competitive rates and strong guarantees, giving advisors confidence that their clients’ assets are in good hands. But it’s more than just products—we provide top-tier service, digital tools, and easy-to-understand educational resources that help advisors simplify the conversation and make annuities a natural part of financial strategies.
4. What is your approach to adapting to market changes?
We take a proactive and insights-driven approach to market adaptation. By closely monitoring demographic shifts, competitive dynamics, advisor feedback, and broader industry trends, we stay ahead of the curve. This intelligence informs how we evolve our products, pricing, training, and marketing strategies. Our commitment is to deliver differentiated solutions that align with both current and emerging advisor and client needs. Ultimately, we strive not only to respond to change—but to lead through it, in a way that reflects our brand promise and institutional strengths.
5. Looking ahead, how do you see the annuities market evolving, and how is your company positioned for long-term success?
The retirement space is evolving fast, with expanding product variety, more demand for fee-based solutions, digital-first sales models, and integration into holistic planning. This is all happening as a significant segment of the U.S. population transitions into retirement, driving a heightened demand for safe retirement planning solutions. We expect these trends to naturally expand the opportunity space for annuities and broader retirement planning solutions. But we also see this as an opportunity to serve wider financial wellness needs including, but not limited to health expenses, long term care and legacy planning. New York Life Annuities is built on a franchise that has served these needs for several decades. Our financial strength, brand strength, deep expertise, and distributor relationships have us well-positioned to partner with advisors in capitalizing on the emerging opportunities. As the industry shifts, we’ll be there—helping advisors adapt, grow, and deliver even greater value to their clients.
SMRU: 8109588; Expiration: 06.26.2026