Consumers See Annuities As Answer To Top Retirement Worry: Survey
October 31, 2018 by LIMRA SRI
NEW YORK CITY – A new LIMRA Secure Retirement Institute (LIMRA SRI) study of annuity owners finds the top two reasons consumers buy annuities are to supplement Social Security/pension income and to receive guaranteed income payments for life.
“Our research consistently shows consumers are worried about running out of money in retirement – 67 percent of pre-retirees list having enough money throughout retirement as their top financial goal,” noted Jafor Iqbal, assistant vice president, LIMRA SRI.
“Annuities are fundamentally unique investment products, offering some combination of guarantees – guaranteed income that investors cannot outlive, protection of principal from market volatility, or guaranteed death benefits for beneficiaries. As more Americans face retirement without the benefit of a pension and growing longevity risk, an annuity can provide peace of mind.”
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