The Securities and Exchange Commission’s recent introduction of a proposal that would modernize the process of disclosing information about variable annuities was met with cries of “it’s about time” from annuity industry advocates.
New LIMRA SRI study of annuity owners finds the top two reasons consumers buy annuities are to supplement Social Security/pension income and to receive guaranteed income payments for life. Two-thirds of pre-retirees say having enough money to last their lifetime is one of their top three goals of retirement.
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