Annuity sales are being influence by increasing emotion and a desire by buyers to secure their retirement, not accumulate wealth, a new report finds.
Cathy Weatherford
Increased market volatility, shrinking retirement savings, and the disappearance of pensions have investors taking a long hard look at the value of annuities in their portfolios, said Marie Rice, custom research practice director at Cogent Research, in a statement.
The report, released by Cogent Research and the Insured Retirement Institute (IRI), found that nearly two-thirds (65%) of advisors who sell annuities indicate that guaranteed income options are expected to increase in importance over the next five years more so than any other factor.
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