A recent survey found that almost 9 out of 10 buyers of traditional fixed annuities are happy with their purchase. In late 2011, LIMRA surveyed 1,200 individuals 40 years of age and over who had purchased an annuity within the past three years. They found that 86% of traditional fixed annuity buyers remained satisfied with their purchase. Also, they found that high satisfaction rates from buyers of indexed annuities (83%) and variable annuities (75%).
The study revealed that the most popular reason these individuals gave for purchasing an annuity was for an effective supplement to their Social Security or pension income. Next in popularity, was for the accumulation of assets, which was an especially large factor for those under 60. Overall, the surveyed individuals most often described their single most important financial object as having enough money to last their and/or their spouses lifetime.
For advice on determining if annuities can address your particular needs, be sure to contact a retirement planning specialist for professional guidance.