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The Merits of Annuities

Retirement EducationIn a recent blog appearing on NAIFA.org and again on lifehealthpro.com, the merits of annuities have been highlighted as a reminder of their importance in effective retirement planning for all of us to keep in mind when hearing of an isolated event of abuse which often gets widespread coverage in the media. This blog written by Robert Miller is most directly aimed at the recent theft conviction of an agent in California who sold an indexed annuity to an 83 year old woman who prosecutors claim showed signs of dementia.

The premise of the blog is that although there was a recent conviction of theft in one small instance, it should not discredit the fact that annuities have benefited so many individuals and families across the country in achieving their retirement goals. In fact, individual annuity contracts paid more than $45 billion in benefits in 2010 with a significant portion of this being made up of indexed annuities. Since they guarantee income for life, these tax deferred retirement products will continue to be part of the retirement portfolios of middle-income Americans. The uncertainty within equity markets compounded with low interest rates has greatly increased the importance of indexed annuity products within retirement planning.  This is because they also bring benefits such as protection of principal, guaranteed minimum interest rates, and potential for upside based on market gains.

For the full blog from lifehealthpro.com, click here.

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