Americans rely upon several different investment vehicles for retirement planning, and annuities have emerged as one of the leading options to help adults reach their financial goals.
The fear of falling short on income coupled with the various annuity options available may be behind Americans' greater interest in this type of product, according to The Boston Globe. While personal savings, pensions, retirement funds and Social Security are essential in providing several income sources, annuities can be indexed for inflation and provide guaranteed income through the duration of an individual's life.
Insurance marketing companies are now targeting individuals of various ages to offer them annuities that fall in line with a range of different retirement goals. These include both immediate and deferred annuities, the latter of which may appeal to more aggressive retirement planners because they offer more options and, as a result, more risk.
Recent studies have shown that annuity sales are continuing to grow, and some analysts agree that market volatility and economic uncertainty may continue to drive investors and retirement planners toward safer and less risky products.
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