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TRENDS:
A safe and secure way to save for retirement
- Despite the recent market turmoil, which led to a decline in consumer confidence about preparedness for retirement, almost 8 in 10 annuity owners say that annuities are secure and safe, are an important source of retirement security, and make them feel more secure in times of financial uncertainty.
- The vast majority of annuity owners say that annuities are an effective way to save for retirement (86 percent) and that their annuity was a safe purchase (89 percent).
- More than three in four say that they intend to use their annuities for retirement income. Other intended uses include a financial cushion in case they or their spouse live well beyond their life expectancy (83 percent) or to avoid being a financial burden on their children (81 percent).
- Almost 9 in 10 agree that investment and insurance guarantees available in annuities are a very important benefit of the product.
Source: The Committee of Annuity Insurers, the Gallup Organization and Mathew Greenwald & Associates
