Talk to Annuity Expert for Best Advice, Even in 80's

I’m really disappointed in something I recently read in the Daily Local News out of Lancaster, Pennsylvania.  In a question and answer column with columnist Bruce Williams, someone wrote in asking whether annuities would be a good idea to help them finance their remaining retirement.  Without much inquiry, he dismissed annuities as a viable investment option for the man asking about them.  It’s really important to speak with an expert about all of your financial details before ignoring a product that could bring you great financial benefits.  While the reader and his wife asking about annuities are in their 80’s and won’t likely be collecting from their annuities for as long as some people with guaranteed lifetime benefits, the right annuity product could really help them alleviate any concerns about outliving their remaining savings.

The couple wrote that they have most of their money in CDs and mutual funds and they are disappointed in the current returns they are getting.  Of course immediate annuity rates are not very high right now either, but there are annuity products and benefits that can make them worthwhile.  Variable annuities with certain guarantees might be a good option for this couple and they may find higher annuity rates than they will for CDs or mutual funds.  Although there are annuities that lose value once the holder passes away, this couple could choose to buy a death benefit annuity so that it would pay out over both of their life spans and even offer benefits to an heir after they have both passed away.  Some annuities would not be right for this couple in their 80’s, but the right annuity expert can help them determine if there might be an annuity product to help meet their needs.  Dismissing annuities as an option was too quick a judgement without more information.

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