Annuities Have the Wind at Their Back
May 20, 2020 by Bill Broich
Just like Sebastian Junger’s excellent book, “The Perfect Storm,” the annuity industry has a major hurricane coming, blowing from its back.
The storm was devastating for the crew of the Andrea Gail, but good for the success of Junger’s book.
The COVID-19 pandemic is tragic for the people who get the virus, and for the businesses and workers struggling with shutdowns. But it will be good for demand for products that provide certainty.
At no time in recent history has a storm of this epic proportion happened in the annuity industry. The aversion to any risk, the massive baby boomer population, and the absolute need for guaranteed income has shoved annuities to the forefront of the financial world.