5 Things Biden's Election Exit Means for Life and Annuities

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President Joe Biden ended weeks of uncertainty Sunday by agreeing to drop out of the 2024 presidential race.

He endorsed Vice President Kamala Harris as the candidate.

Harris was born in Oakland, California, in 1964. She earned a bachelor’s degree from Howard University and a law degree from the University of California College of the Law, San Francisco.

Harris has served as the attorney general of California and as a U.S. senator from California.

The Democrats will officially choose their nominees for president and vice president through a virtual vote set to run Aug. 1-7.

For life insurance and annuity professionals, one obvious impact of the announcement will be the addition of a story they can use to illustrate the importance and complexity of business succession planning.

See the accompanying gallery for five more ideas about how Biden’s exit from the campaign could affect the life and annuity sector,

President Joe Biden stands with Vice President Kamala Harris on May 29 at a campaign event in Philadelphia. Photo: Hannah Beier/Bloomberg

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