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Annuities fared better than other retirement assets in Q1

Annuity reserves declined 7.3% in the first quarter of this year, compared to the fourth quarter of 2019, but the drop was smaller than any of the other retirement asset classes, according to a report from the Investment Company Institute. During the same period, total retirement assets dropped 12% and…

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Expert: Interest in annuities rises when markets fall

Older investors tend to place an emphasis on recent market performance, leading to more interest in annuities right after the stock market falls, according to Michael Finke, director of the Wealth Management Certified Professional program at the American College of Financial Services. “[P]art of the advisor’s job is to get…

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Exec: Annuities on track to gain in popularity this year

Indexed annuities and variable annuities with guaranteed minimum accumulation benefit riders “will continue to gain popularity in the New Year,” says Dylan Huang, senior vice president and head of retail annuities at New York Life. These products can provide downside protection while offering exposure to market gains, Huang says. ThinkAdvisor…

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Personal finance expert changes tune on SPIAs

Personal finance expert and columnist Jane Bryant Quinn says she has changed her views on single-premium immediate annuities, as their prices have become more attractive relative to bonds. “They’re especially worth considering for people who are getting older and think their savings is going out the door faster than they…

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SPIAs can offer income stream while delaying Social Security

Retirement savers who want to defer taking Social Security payments can arrange to have a regular income stream by purchasing a single-premium immediate annuity. SPIAs offer peace of mind and a way to protect assets, advisors say. CNBC

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Factors to consider before doing an annuity exchange

Former Treasury Department policy advisor Matt Carey reviews factors annuity owners should consider before going ahead with a 1035 annuity-to-annuity exchange. These include current rates, the surrender schedule and the intended goal of the new annuity. Forbes

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Advisor: Annuities good long-term pick for retirement portfolio

In today’s low-interest environment, annuities are good products to fill the long-term portion of a retirement portfolio, according to Ephie Coumanakos, co-founder and managing partner of Concord Financial Group. “It is hard to take one’s nest egg and make it last for a long retirement, which is why fixed-indexed annuities…

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Experts: Risk aversion, low interest rates to spur FIA sales

Fixed-indexed annuity sales in the first three quarters of 2019 rose 13% year over year, according to the LIMRA Secure Retirement Institute. Experts expect sales to continue to grow in 2020, spurred by investors’ desire to mitigate risk, low interest rates and a move away from commission-based products toward fee-based…

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Advisors weigh in on variable annuities exchanges

Financial professionals offer their opinions on when recommending a 1035 exchange of one variable annuity for another is a good idea. “It’s important to consider the annuity within the context of the person’s financial plan and risk tolerance rather than to think of it as a standalone asset,” says Cody…

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Will other states follow N.Y.’s lead on annuity rules?

Annuity and life insurance agents are waiting to see whether New York state’s approval of tough rules for these products will lead to the adoption of similar measures in other states. A number of financial professionals weigh in on the chances, with one saying that “New York, because of its…

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