Life Insurance Quotes

Even millionaires buy annuities

06/02/11

While the super-rich may have enough money to support them for life, that does not mean they don't want more, according to AnnuityNews.com. Annuities are seen as a safe investment and people that would rather not take significant risks in the stock market are turning to this type of financial planning strategy.

Some millionaires prefer to be involved in the day-to-day planing and management of their investments, according to the news source. However, there has been a significant decline in the amount of people that felt that way over the past year. A study by the Spectrum Group found that in 2011 only 49 percent of people wanted to handle their finances, while just a year ago that number sat at 65 percent.

"Wealthy Americans may simply be experiencing investor fatigue, prompting them to pull back and allow their advisors to take the lead in managing their assets," Spectrem Group president George H. Walper Jr. told the news source.

Experts believe some millionaires may also be fed up with the instability of the stock market, and simply view annuities as a safer option.  

Talk to an Advisor

A licensed insurance advisor can explain your options and help you choose the right life insurance for your needs.

Call: 1-800-823-4852

Chat: Live Advisor Chat

Sm

A few of the carriers we quote