Annuity Sales Credited For Rise In Households With Lifetime Income
November 17, 2020 by Contributor
For the first time since the Alliance for Lifetime Income launched the Protected Lifetime Income Study in 2018, the number of protected households in the US has increased.
Protected households are those that have a source of protected income—a pension or an annuity—to supplement what they receive from Social Security. The share of protected US households grew from 37% in 2019 to 40% this year, representing approximately 3.1 million newly protected households. Additionally, the study determined that this year’s increase is attributable to annuity ownership.