ABSTRACT
The life Insurance Marketing and Research Association (LIMRA) estimates that the total dollars in individual retirement account (IRAs) as of year-end 1985 was over $200 billion. Since IRAs became widely available in 1982, they have had a significant impact on what Americans do with their savings dollars. If the customer base is primarily in the blue collar or farming occupations, there are numerous products and services geared for these markets, but IRAs are unlikely to be very successful. A survey of insurance companies conducted by LIMRA in September 1985 shows that a number of insurance companies, especially the big ones offer self-directed accounts for IRAs. There are vast opportunities in the IRA market, a market that is big and getting bigger. Once a customer chooses one company with which to place his or her IRA, that company can at least be assured that it will be used as a comparison against competitors.
