Longevity annuities and what you should Know. In our many years of helping clients plan for retirement, we have noticed on Longevity annuities can protect against outliving savings. But not many buy…
Casey just saw the article “Longevity annuities can be a good deal for seniors. But not many people buy them” posted to CNBC.com. Crown Haven Wealth Advisors has long believed in annuities as a great retirement.
The more popular and broadly known variable annuities saw sales of $99 billion last year. In contrast, the umbrella of deferred income annuities of which longevity annuities are a subset saw $1.7 billion in sales in 2020, according to LIMRA, an insurance industry group.
According to the article… “The mismatch is largely due to the psychological hurdle of handing over a large sum of money that won’t yield a benefit if one doesn’t survive another 20 or so years, Blanchett said.
The reason we see this being true is that it’s easier to ask a client for smaller deposits of money on a regular basis to get a quick sale even though it may not be the best investment vehicle for the client.
Since our inception, Crown Haven has been a fee-based fiduciary advisor for our clients, always using the Fiduciary Standard as the bedrock of our planning philosophy.
We used this philosophy to create RetireSHIELD® that is a registered financial planning system to make sure you have the most appropriate setup for retirement.
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Longevity annuities can be a good deal for seniors. But not many people buy them.
Read the full article at CNBC.com.