News | 11.29.18
Younger Workers Amenable To Annuities . . . Eventually
LIMRA Secure Retirement Institute conducted a study that looked at investors who had a discussion with their financial advisors about deferred annuities within the past three years but then decided not to buy. The survey classified the respondents into three broad categories. The largest category of people (42 percent) who didn’t buy an annuity considered them to be good products and were open to the idea of eventually buying one. Among this group, the top reason for not buying one is that it’s not the right time (44 percent). Almost two-thirds of this segment isn’t retired, and only 30 percent of the non-retirees plan to retire in the next 10 years. People in the second-largest category (40 percent) said that annuities are okay but are not for them. Those in the third category (18 percent) most identified with the statement that they don’t like annuities and would likely never buy one.
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