A slam dunk of a fixed income stream can sound pretty appetizing to any consumer -- including retirees. Consequently, guaranteed rate annuities can be just the ticket for them, according to annuityexpertadvice.com.
That said, before John Hancocking the dotted line, it’s important to familiarize yourself with the contract terms. After all, you want to circumvent locking into an investment that yields less than satisfactory returns, the site continued.
The sales of multi year guaranteed annuities have surged this year, according to lifehealth.com. First quarter sales chimed in at $14.5 billion, a hike of 30.1% compared to the quarter before.
According to industry surveys, seeing the money well run dry’s the top fear among most retirees, stated winkintel.com.
“Annuities play a critical role as a safe money alternative for so many seniors, especially in our current environment of market volatility,” said Chris Conroy, IAMS’ executive vice president and general counsel.
