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Don’t Wait for Higher Interest Rates to Buy an Immediate Annuity

Interest rates are historically low right now. There are a lot of consumers who think they should hold off on buying an immediate annuity until interest rates go up. In an article for CNN Money, Walter Updegrave answered the question should you "Buy an annuity now or wait for interest rates to rise?" A reader wrote in asking Mr. Updegrave if he should wait to buy an annuity because interest rates are going to go up soon. The problem with waiting for interest rates to rise is that no one has any... Read More

Immediate Annuity Sales Haven’t Been Affected By Low Interest Rates

Yesterday I blogged about how immediate annuities compare to bonds when creating retirement income.  Bonds cannot match the security and guarantees offered by immediate annuities.  When interest rates are high, you typically see a large increase in sales of fixed annuities such as immediate annuities.  Rates aren't what you would consider high right now, but immediate annuities had a record sales year in 2013.  According to "Low Rates Haven't Stopped Annuities Sales," Zachary Tracer and... Read More

Finance Your Retirement With Immediate Annuities

Immediate annuities are a great way to finance your retirement.  Steve Vernon wrote an article for the California Institute of Finance that is part of a series helping people determine the best way to finance their retirement.  As the final entry in the three part series, "Understanding how you can use immediate annuities to fund your retirement" offers examples for four different types of immediate annuities.  Mr. Vernon used excellent charts to compare using fixed annuities, variable... Read More

You Can Get A 6.76% Immediate Annuity Rate

Are you one of the people who don't think you can get any good annuity rates right now?  The AARP recently sent out some advertising for an immediate annuity rate of 6.5%.  While that is not a bad rate, we were able to find better.  Many people contacted us looking to see if the AARP's deal was a good one.  The 6.5% immediate annuity is through companies like New York Life Insurance and is based on a male aged 72.  Annuity FYI was able to find an interest rate for the same male for... Read More

Immediate Annuities May Benefit from Name Change

Financing retirement through annuities is the only way to guarantee income that will last through your lifetime.  If they are so beneficial, why aren't they more popular?  Mary Beth Franklin of Investment News says that the simplest of annuity products, immediate annuities, may benefit from a name change.  In her article, "Annuities suffer from a branding problem," Franklin says that it is not only consumers who have an issue with the word annuity, but sometimes it is advisors too.  Simple... Read More

Annuity Products Make Sense Right Now

Now is definitely a good time to purchase annuities, providing you find those that are low cost and have terms you like.  This is the conclusion come to by Dan Kaplinger of the Motley Fool, in his article "Is Now a Good Time for Annuities?"  By far the top fear of those in or nearing retirement is that they won't have enough money saved to carry them through the rest of their lives.  Annuity products are really the only investment that is structured to insure against the risk of outliving... Read More

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... Read More

Despite Challenges, Annuity Outlook for 2012 Good

In "Outlook 2012: Annuities-Industry at Crossroads, With Weatherford, Greenwald, Cortazzo," John Sullivan of AdvisorOne says that annuities should do well next year despite some potential hurdles.  With two major annuity carriers departing the market recently, you would think that would forecast a big problem for annuities overall.  But that is just a product of some horrible market conditions and the need for annuities now is greater than ever.  Lifetime income guarantees are more important... Read More

Variable Annuity is a Hot Product

The Insured Retirement Institute found that variable annuities are as popular as ever, reaching record levels of sales in the 3rd quarter of this year.  Net variable annuity sales of $8.8 billion had not been reached since the 3rd quarter of 2007 saw $8.9 billion in sales.  With this quarter's $39 billion in total variable annuity sales, the industry is on track to reach $150 billion in annuity sales for the year.  This information comes from Advisor One's Danielle Andrus, in her article... Read More

Number of Retirees Using Annuities Is Rising

A recent study from LIMRA showed that 35% of retirees use annuities to finance their retirement, according to USA Insurance's Insurance Corner.  In the article "Study: Annuities could become larger income stream for retirees," it is suggested that this percentage is likely to increase rapidly in the future.  Fifty percent of retirees between the ages of 75 and 79 use annuity products to help pay their expenses.  Twenty percent of those under the age of 65 are using annuities, but that's not... Read More

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