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NAFA Says That Fixed Annuities Are Simple, Offer Benefits Beyond Interest Rates

It's really the responsibility of the annuity industry to proactively spread information about annuity products.  There is a lot of negative information in the public, some of it warranted, some of it not.  Naysayers say that annuities cost too much, are complicated and lack flexibility if your needs change.  This is not the case for most annuity products, but unless the annuity industry works to educate the public on annuity truths, they will continue to hear the negative people loudly. ... Read More

Annuities Help Finance Retirement Needs & Wants

One of the biggest concerns facing retirees is that their income will not last as long as they live.  In "How to Make Your Income Last for Decades During Retirement," Tom Halloran's U.S. News article says that you should consider annuities to help face that concern.  When it comes time to retire, you probably will have more questions than answers.  You don't know what your financial situation will look like in retirement or whether your savings and retirement planning will last for as long... Read More

Annuity Purchasers Are Getting Younger

In Insurance News Net's "The New Age Of Annuity Sales: Connecting With A Younger Demographic," Rich Lane says that younger people are showing increasing interest in annuity products.  Annuities used to be thought of as an investment strategy that was only for retirees.  But new and changing products paired with a need to create your own retirement plan has brought annuities to the attention of younger people trying to create their own retirement investment strategy. Retired Baby Boomers or... Read More

Deferred Income Annuities Are More Flexible Than You Think

Deferred income annuities have been gradually increasing in popularity over the past decade.  William Byrnes and Robert Bloink published an article in Think Advisor discussing the new flexibility of these products.  According to "Deferred Income Annuities: More Than Just Longevity Insurance," most people view these products as longevity insurance that will protect them from outliving their retirement savings.  That is definitely the most common use for deferred income annuities and probably... Read More

The Treasury Department Thinks Longevity Annuities Are Important

The Treasury Department changed required minimum distribution rules so that it's easier for people to use longevity annuities in their 401k plans and IRAs.  It is now time for employers and plan sponsors to get on board and start offering more annuity options in the retirement plans.  Steve Vernon's CBS Moneywatch article "This annuity has you covered if you live long"  talks about the importance of longevity annuities.  It will be easier for employees to use longevity annuities to get... Read More

Payout Annuity Yield from CANNEX Creates An Industry Benchmark

There are a lot of benchmarks to measure yields in the financial industry.  There are indexes for stocks, bonds and even real estate, but there was not an index to measure the annuity industry.  CANNEX recently introduced the PAY (Payout Annuity Yield) index so that the income annuity industry would have a benchmark.  Benchmarks help to determine the strength of the industry and give consumers and insurance companies a comparison for their own products.  CANNEX's PAY Index determines the... Read More

MetLife’s Guaranteed Income Builder Deferred Income Annuity

We learned about a flexible new deferred income annuity from MetLife in a recent Wall Street Journal press release.  "MetLife Introduces a Deferred Income Annuity with a New Level of Flexibility" discusses the Guaranteed Income Builder and summarizes its features.  This new deferred income annuity offers consumers a lifetime income stream similar to that of a pension.  Your guaranteed income payments are coupled with a level of flexibility that MetLife says is hard to find in any other... Read More

FINRA Closely Monitoring Exchanges from Variable to Fixed Indexed Annuities

Fixed indexed annuities are replacing variable annuities in many circles.  Some people are opting to buy fixed or indexed annuities from the start, while others are making 1035 exchanges from a variable annuity that they currently own.  FINRA is more closely monitoring these annuity exchanges, especially since broker-dealers are selling more indexed annuities than ever.  This information comes from Investment News' "Fixed annuity sales receiving added scrutiny from Finra," by Bruce Kelly and... Read More

SPIAs: The Simple Way to Create Retirement Income

There are a lot of different types of annuities.  A single-premium immediate annuity is the simplest form of these income products.  In "Income for life - the old fashioned way," Anthony Petsis of The Intelligencer says that while SPIAs might seem boring and outdated to some, there is a reason that they have been around for so long.  The author broke down the wording of a SPIA to make the products even easier to understand.  Single-premium means that you pay a one time amount to an... Read More

Annuity Products Transfer Longevity Risk to an Insurer

One of the most difficult parts of retirement planning is that no one knows exactly how long they will live.  So even with excellent planning, you run into longevity risk, or the risk of outliving your savings.  In the Forbes article, "Planning For An Uncertain Life Expectancy In Retirement," Jamie Hopkins gives us some advice for managing longevity risk.  We all know that we need to save for our retirement, but we don't know exactly how much.  If you save enough money to last you until you... Read More

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