Life Insurance Quotes

AIF's build retirement friendly financial app

09/30/11

Financial planning studies have indicated that many retirees who have pensions, like a defined contribution plan, have little experience with investing and face difficulties when they have to choose where to invest their savings. One study, conducted by the Employee Benefit Research Institute in 2011 found that only 42 percent of workers said that they have calculated the amount of savings they will require to retire and live out their remaining years comfortably.

With this in mind, accredited investment fiduciaries developed iJoin, a smartphone application that helps people manage their retirement funds and invest responsibly, encouraging participation in plans if they were not already enrolled, and helping those enrolled better understand the workings of their defined contribution plans.

"iJoin provides an intuitive way to discuss what most people consider an intimidating subject," said Kevin Cicci, AIF. "In our pilot, we were hoping to see an increase in the savings rate of existing participants while also engaging employees who were eligible for the Plan but not yet participating."

As participation in a number of financial planning venues has waned in response to the economic downturn, many life insurance and annuities providers have turned to new ideas like financial apps and online retirement calculators to help retirees establish a comfortable amount of savings.

Talk to an Advisor

A licensed insurance advisor can explain your options and help you choose the right life insurance for your needs.

Call: 1-800-823-4852

Chat: Live Advisor Chat

Sm

A few of the carriers we quote