Life Insurance Quotes

Interest in annuities increasing following market uncertainty

10/20/11

As a result of the uncertainty of the market, more Americans are turning their attention toward annuities as a backup plan for the future.

According to MarketWatch, Americans are looking for alternatives to ensure that their finances are in order, despite possible economic turmoil.

"The market uncertainty has definitely increased the appetite for annuities for income-oriented investors because rates are so low and for retirees, that income is essential," Mark Lamkin, a certified financial planner who manages $250 million at Lamkin Wealth Management in Louisville, Kentucky told the news source.

Sales of variable annuities have increased 19 percent through the first six months of the year when compared to the same period last year, according to Morning Star, an investment researcher.

According to a report released by the Insured Retirement Institution, variable annuities can increase the amount of retirement income individuals receive. Another report by Life Health Pro, said the variable annuity field has narrowed and companies have shifted their financial strategies toward more safe financial strategies following the countries latest market upheaval. 

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