Life Insurance Quotes

Annuities may be solid option for retirees

06/15/11


When the stock market crashed in 2007, many investors lost a good portion of the money that was supposed to be used for their retirement. As a result, people may be forced to work longer than they had originally planned, and some have begun weighing different investment options.

Individuals who are close to retirement age may want to secure some of their financial nest egg in case the market crashes again. Some financial advisers are suggesting their clients invest in annuities, according to US News and World Report. These policies can guarantee a lifetime income an protect individuals from future market crashes.

Variable annuity sales in America rose by 24 percent in the first quarter of 2011, LIMRA reports. Prudential led the way, selling $6.81 billion worth of retirement products. However, some investors are still leery about moving their money into annuities.

While the majority of sales are in variable annuities, they tend to be sold long before they are able to generate retirement income, US News reports. Fixed annuities, on the other hand, can provide a guaranteed rate of return immediately.

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