June is National Annuity Awareness Month
In 2010, the National Association for Fixed Annuities (NAFA) designated June as National Annuity Awareness Month (NAAM) to help educate Americans on the important role of annuities as part of a secure retirement savings plan.
In 2014, with a common desire to serve consumers by helping them understand annuity products, NAFA, and several other industry associations came together to establish the Coalition for Annuity Awareness.
Since 2014, the Coalition and sponsors of National Annuity Awareness Month have partnered together to provide educational material, webcasts, and social media communications to help educate financial professionals, the public, and elected officials on the important role of annuity products in planning for retirement and creating income for life.
To support these efforts, the Annuity Alliance will share educational materials and content to help consumers understand annuity products, so they can make an informed decision when selecting these products. Look for future articles in the upcoming weeks – and after National Annuity Awareness Month ends.
Today’s consumers face a difficult challenge in preparing for retirement. They’re living longer, working later in life, and having to take on the lion’s share of their own planning efforts.
With so much information about financial products and strategies readily available online and in the media, it can be difficult to cut through the clutter and identify fact from fiction. It can also be difficult to create a plan that matches a consumer's risk tolerance, keeps up with significant life changes he/she experiences over time, and makes certain your financial goals and objectives will be met.
Annuities can play a critical role in helping individuals successfully prepare for their golden years. In fact, according to a recent report from the LIMRA Secure Retirement Institute, 73% of annuity owners are confident about their retirement readiness compared to just 64% of those who don’t own an annuity. (1)
We encourage you to seek help from a licensed, trusted professional in your area to solidify your plans for retirement. Annuity Alliance can help you find those professionals – simply click the link below.
(1) LIMRA Secure Retirement Institute The Differences They Make: An Advisor, An Annuity, or A Formal Plan in a Retiree’s Life, issued Feb. 20, 2018.