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New Study: Deferred Income Annuities Could Be Key to Retirement Security

A new study from the Employee Benefit Research Institute found deferred income annuities (DIAs) held within a 401(k) could be a critical component to a secure retirement. According to a recent ThinkAdvisor article, individuals who purchased a DIA at age 65 with no death benefits improved retirement readiness regardless of the age of death if the purchase reflected retirement account percentages on the lower end of the spectrum. The report, titled “Deferred Income Annuity Purchases:... Read More

Structured Settlements and the Incentives That Complicate Them

Every year, thousands of individuals are involved in accidents that require years of medical care, often funded by a lump-sum financial settlement. Because it can be extremely challenging to manage such care with an all-cash settlement, many end up settling legal claims with a structured settlement. This means they trade a cash settlement for long-term, tax-free income that is funded by an annuity. It’s a wise decision and encouraged by the federal tax code, but did you know that special... Read More

Annuities and Retirement Planning: The Bucket Approach

When financially planning for retirement, it is just as important to plan on how to efficiently distribute assets as it is to accumulate them. And while each individual’s retirement income plan is as unique as they are, there is one rule of thumb that can be applied to just about everyone: diversify, diversify, diversify. An effective investor will develop a strategy that protects their income from market fluctuations and identifies the specific purpose for each investment they own. One... Read More

Prudential Focusing On Annuity Conversation

If you research annuity products online, you’re going to find a plethora of information that both support these financial tools and caution against them. With so much controversy surrounding them, many companies are still skeptical about selling annuities, but one in particular is taking a huge leap in favor of them. New Jersey-based Prudential has committed to not only create new products, but also to change the conversation about them. “Innovation is less about a core income solution... Read More

Global Atlantic First to Offer Annuities via Envestnet Insurance Exchange

Global Atlantic Financial Group has just announced that it will be the first to offer annuity products on the Envestnet Insurance Exchange, a program that was recently introduced, integrating insurance solutions into the wealth management process. The Envestnet Platform is meant to streamline and enhance advisors’ ability to deliver the lifecycle of advice, according to a recent press release. “We’re proud to be an early partner with Envestnet by providing our annuity solutions on the... Read More

New Alliance Launches Education Campaign for Lifetime Income, Annuities

Last week, large strides were taken to address the national retirement income crisis in America. A coalition of 24 major insurers and asset management firms have joined forces to launch a public information campaign in an effort to educate consumers and financial advisers about the role annuities can play in a retirement income plan. “The Alliance for Lifetime Income believes the possibility of outliving hard-earned savings is a real threat to the financial and emotional well-being of... Read More

Seek Reliable Information When Shopping for Annuities

If you ask anyone who is nearing retirement if they’d like a steady stream of guaranteed income during their Golden Years, most would answer with an enthusiastic “YES!” But ask those same people if they’re interested in purchasing a prime source of such income, fixed annuities, and the response changes drastically. Why the discrepancy? Many industry experts blame bad information. According to a recent Kiplinger article, 56% of Americans claim that guaranteed income is their #1... Read More

Keep It Simple When Shopping Annuities

One of the most common phrases surrounding annuity product is that they aren’t bought; they are sold. The saying originates from the fact that annuities are often very complicated and can sometimes be very expensive, often carrying heavy commissions for advisors who sell them. Unfortunately, the saying has proven to be true in many circumstances. It’s important to keep a few key ideas in mind when considering the purchase of an annuity. Remember that annuities are insurance products... Read More

LIMRA Study Finds Annuities Provide Sense of Security

For one reason or another, annuities have been given a bad rap, most likely because of the complex nature of these financial tools. But regardless of whether you love them or hate them, according to a recent LIMRA study, retirees who own them feel more secure than those who do not. The study, discussed in a recent article from 401(k) Specialist magazine, found that 75% of retirees who own an annuity believe they will be able to live the lifestyle they want in retirement, compared to just 64%... Read More

A New Approach to Annuity Sales

Earlier this week, the Insured Retirement Institute (IRI) held it’s annual conference, VISION, giving industry members an opportunity to learn about emerging trends, network with peers, celebrate the organization’s 25th anniversary and connect with experts on a variety of topics that encompass the retirement industry. According to a recent InsuranceNewsNet article, one such expert was Ken Harman, a psychologist and managing director of the AB Advisor Institute, who discussed an overhaul to... Read More

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