This report takes a look at multimedia videos offered by firms in our coverage group that center on educating the public about annuities. We focus on videos that provide an explanatory overview of how annuities work as well as the function of specific annuity products and features. Overall, we assess the multimedia videos’ quality, features and content.
Specifically, this report focuses on the following criteria:
- Location of video offerings
- Video content
- Video features
Of the 19 Annuity Monitor firms in our coverage group, 13 provide videos covering annuity basics and product information. Most video offerings focus on deciphering annuity product features, with many explaining variable annuities. Less than half of firms provide explanatory videos for annuity riders.
Currently, two firms excel in providing the most variety of video offerings with more than 10 videos that focus on explaining annuity basics and product offerings. Both firms also place these videos in prominent areas of the public site. These outlying firms do not reflect most offerings, as on average Annuity Monitor firms offer only five videos each.
Ten firms make use of animation and graphs to illustrate annuity information, with two firms going a step further by offering embedded hyperlinks in their videos that help engage viewers in the content. Embedded links let prospects decide what they wish to view next in terms of content. It is increasingly important that the average internet user, who is used to navigating streaming services like Netflix and sharing content on social media, can easily manipulate a video through various features. Adding options to share videos, for example, to social media or through email can open discussions of annuities with their friends, family or financial professionals.
Additional key findings include:
- Three firms offer customer testimonial videos.
- Three firms house videos on microsites.
- One firm is promoting an annuity video on its homepage.