2025 U.S. Individual Annuity Study Findings

This report presents the findings of the 2025 U.S. Individual Annuity Study conducted by J.D. Power, which evaluates customer satisfaction within the individual annuity sector. The study reveals a decline in overall customer satisfaction by 6 points compared to the previous year, primarily due to frustrations experienced by new clients and issues with digital engagement. The report highlights that satisfaction with digital channels has notably dropped by 20 points, marking it as the lowest-scoring aspect of customer interaction. Furthermore, it indicates a significant decrease in satisfaction among customers with policies held for less than three years, which fell by 16 points. The study also notes a decline in customer understanding of annuity costs and fees, with fewer customers feeling they have complete clarity on these aspects. USAA is ranked highest in customer satisfaction for individual annuities for the second consecutive year, followed by Western & Southern Life and New York Life.