Top FIA Myths and Why They’re Wrong

Did you know that more than 25 million Americans, aged 60 and over, are living at or below 250% of the federal poverty line, making them economically insecure? It’s understandable why so many retirees are fearful of outliving their money. While Social Security helps, it often isn’t enough to support a full retirement, leaving millions of people in our country struggling to build-up retirement savings to survive on. There are few options for generating income in retirement, especially income... Read More

Fixed & Variable Annuity Sales Push Total Figures Slightly Upward

Last week, the LifeHealthPro Editors summarized the IRI's second quarter annuity sales report and found that "Annuity sales (are) trending slightly up year over year." The Insured Retirement Institute based their report on information from Beacon Research and Morningstar Inc. Second quarter total annuity sales were $55.9 billion, just a little bit under the first quarter sales of $56 billion. That is down 4.3% from the second quarter of 2015's sales of $58.4 billion. Year to date annuity sales... Read More

Focus on Guaranteed Lifetime Income in Retirement Planning

On paper, annuities have everything that retirement savers need to meet their income needs when they are no longer working. But most workers are not choosing annuities because they aren't aware of their value. There are other behavioral factors keeping people away from annuities as well. In the LifeHealthPro article "Why aren't retirement savers choosing annuities?", Marlene Y. Satter summarized some of the latest findings on this topic. The Center for Retirement Research at Boston College... Read More

Finding the Right Annuity Product to fit Your Financial Puzzle

In "The right fit: Choosing the appropriate annuity," Paul Hechinger of On Wall Street discusses the need for complete clarity in the annuity industry. He says that it's important for advisors to fully understand their clients' needs, how annuities work and each annuity products' terms and compensation model. Advisors cannot recommend an annuity in good faith until they are clear on these topics. The author says that advisors should only recommend an annuity to their client if they would make... Read More

Annuity Sales Increase As Consumer Awareness of Their Value Does

It's no coincidence that annuity awareness and sales are growing at the same time. Lack of awareness and misinformation have really been the factors keeping people away from annuities despite the fact that annuity benefits match up with personal finance goals. In a recent LifeHealthPro article, "Both annuity awareness, sales growing," Peggy Bresnick discussed the trend. Although only 22% of Americans are very confident that they will have enough money for a comfortable retirement, that figure... Read More

401k Plans May Default Money into an Annuity Product

Many Americans will benefit from using a 401k annuity. By transferring some of your 401k funds to an annuity product, you can guarantee a lifetime income stream that you will not outlive. Some 401k plans are starting to default your funds into an annuity, something that Walter Updegrave questioned the ethics of in the Money article "Should Your 401(k) 'Nudge' You Into an Annuity?" The Boston College Center for Retirement Research proposed a plan where 401k sponsors would default a percentage of... Read More

Six Different Living Benefit Rider Guarantees

Guaranteed income is in high demand right now. That is why many people are turning to annuity products with guaranteed income riders to ensure that they don't run out of money during their retirement. In "6 annuity guaranteed minimum living benefit riders," LIfeHealthPro's Kristen Beckman explains six of the most popular living benefit riders available. Before the first GMLB (guaranteed minimum living benefit) products were introduced two decades ago, annuity principal was only protected upon... Read More

Use Guaranteed Income from Annuities to Ease Retirement Concerns

You have no control over market volatility, no matter how much you try to plan for it. Earlier this summer, in a situation now known as Brexit, the United Kingdom left the European Union. This has really effected the markets and put a lot of retirees on edge. The only way that you can account for market volatility without the anxiety of constantly worrying about your money is to have a source, or multiple sources, of guaranteed retirement income. In "Guaranteed income: The antidote to market... Read More

Look at a Fixed Annuity Product to Create Your Own Pension

Americans are searching for a guaranteed stream of income similar to the pension plans that many of their parents and grandparents had. In "The Fixed Annuity: It's Like Buying a Pension," The Motley Fool's Serena Maranjian explains how fixed annuity products can be used to create your own personal pension from your retirement savings. With a fixed annuity, you enter into a contract with an insurance company. In exchange for a lump sum payment, they agree to pay you monthly income for a... Read More

Turmoil in the Variable & Indexed Annuity Industry

The annuity market is changing. This is partly because of the recent DOL fiduciary rule and partly because of other forces in the economy. In an article for Think Advisor, Raymond James' Scott Stoltz gives us "A Glimpse of the Future of Annuities." Variable annuity sales have been declining slowly since 2011 and LIMRA expects them to go down significantly more over the next two years. In contrast, fixed indexed annuity sales are skyrocketing and all of the top 10 indexed annuity carriers saw... Read More

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