From providing lifetime income and preserving a portion of your hard-earned assets to giving you the opportunity to grow your retirement dollars, annuities can help you achieve the retirement you want.
Ownership of annuities is correlated with an increased level of retirement preparedness. Baby Boomers who have made the decision to purchase financial products specifically oriented toward retirement income are more likely to have taken positive steps to prepare for retirement.
Why Do People Buy Annuities?
- Supplement retirement income
- Grow retirement dollars
- Receive guaranteed lifetime income
Preparedness for the Future
- 55% of Americans have less than $10,000 saved for retirement
- 7 in 10 retirees who own an annuity are more confident their savings and investments will not run out if they live to age 90
Retirement Confidence of Annuity Owners
- 73% of Baby Boomers believe they will have enough money in retirement
- 53% expect to have money for basic expenses for the future of women with annuities are confident with approaching retirement
People who own annuities are better prepared for retirement, feel more economically satisfied, expect to be able to enjoy leisure activities in the future, and are confident they will have sustainable income throughout their retirement years.
Guarantees provided by annuities are subject to the financial strength of the issuing insurance company; not guaranteed any bank or the FDIC. Guaranteed lifetime income available through annuitization or the purchase of an optional lifetime benefits or income rider, for which an annual premium is charged. Annuities are long-term products of the insurance industry designed for retirement income. They contain limitations and exclusions, including withdrawal charges and a market value adjustment that will affect contract values. Information gathered from “Building Retirement Confidence with Annuities” from the National Association for Fixed Annuities.