Annuities boost retirement security, poll says

0 Shares

Annuities boost retirement security, poll says According to a new Gallup survey, non-qualified annuities significantly increase the retirement security of middle-class Americans, and those whose portfolios include them have expressed greater financial confidence during the current recession.

Non-qualified annuities are purchased by investors individually, rather than through a qualified employer-sponsored retirement plan or individual retirement arrangement.

The study, conducted in conjunction with the Committee of Annuity Insurers (CAI), found that although many Americans believe they are not financially ready for retirement, a total of 91 percent of non-qualified annuity owners believe they have done a very good job of saving for old age.

In addition, nearly 79 percent say that annuities are safe and make them feel more secure in times of financial uncertainty.

"This survey demonstrates that these Americans consider their annuities the answer to both sides of the fundamental retirement challenge – a method to accumulate retirement savings and a vehicle to turn their savings into a steady retirement income stream that cannot be outlived," says Deborah Winston of the CAI.

The background to the survey specifies that 80 percent of non-qualified annuity owners have annual household incomes below $100,000. They are also more likely to be female (58 percent) than male (42 percent).
ADNFCR-1961-ID-19371420-ADNFCR

Special To Personal Liberty

You Sound Off! is written by our readers and appears the last Wednesday of each month. If you would like to submit an article or letter to the editor for consideration for You Sound Off!, send it to yousoundoff@personalliberty.com by the Friday before the last Wednesday of the month. To be considered, a submission should be 750 words or less and must include the writer's name, address and a telephone number. Only the writer's name will be published. Anonymous submissions will not be considered.

Join the Discussion

Comment Policy: We encourage an open discussion with a wide range of viewpoints, even extreme ones, but we will not tolerate racism, profanity or slanderous comments toward the author(s) or comment participants. Make your case passionately, but civilly. Please don't stoop to name calling. We use filters for spam protection. If your comment does not appear, it is likely because it violates the above policy or contains links or language typical of spam. We reserve the right to remove comments at our discretion.