5 FIA Myths Busted
July 6, 2021 by Chris Grady
Education plays a key role in building a sustainable retirement income plan, but myths and misconceptions can get in the way, particularly when considering an annuity as a retirement savings vehicle. A recent Secure Retirement Institute study revealed that Americans are largely confused about how to turn workplace savings into a guaranteed income stream. Only 1 in 4 consumers understood that money saved in workplace retirement plans could be used to purchase annuities.
The confusion around annuities shows there is ample opportunity to educate clients looking to effectively and creatively save for their retirement. Here are five common myths about fixed index annuities (FIAs) you can bust for your clients. Once armed with the facts and your guidance, they will be ready to make a more confident decision in adding FIAs to their financial plans.