Aon Consulting Worldwide, the human capital consulting organization of Aon, which is a provider of risk management services, insurance and reinsurance brokerage, has announced that it will promote the ELM annuities to its clients.
These fixed annuity contracts were developed by ELM Income Group, working together with the large insurance companies that issue the contracts. The ELM annuities are designed to address issues around pricing and transparency, and are claimed to respond to the changing retirement needs of US retirees concerned with risks such as market volatility, longevity and inflation.
Aon Consulting will offer the ELM annuities to employer clients seeking to introduce their retirees to the fixed annuity marketplace.
Cecil Hemingway, executive vice president and head of Aon Consulting’s US retirement practice business, said: We think ELM offers the kind of value and integrity employers like to see in the marketplace. There is now extensive economic research demonstrating how annuities may optimize sustainable income in retirement.
Through independent research, and our own analysis, from February 2007 to December 2007, we compared the annuities available through ELM against other similarly available annuities and found ELM annuities are highly price competitive, very flexible, very secure and provide additional benefits not often available from competitive products.
Chris O’Flinn, president and CEO of ELM Income Group, added: ELM Products efficiently address the needs of retirees who need either safety and income, or safety and growth opportunity. We believe the partnership with Aon Consulting will enable workers nationwide to learn more about the advantages of fixed annuities and benefits of the ELM programs.