Who Benefits From Annuities?
61667 POINTSview profileSteve SavantSyndicated Financial Columnist, Host of the weekly talk show Steve Savant's Money, the Name of the Game, Scottsdale ArizonaTax deferred annuities are generally purchased for income after age 59 1/2. The income can benefit the owner of the annuity, the beneficiaries of an annuity with period certain income like 10 or 20 years certain and even provide life time income you can't outlive. You can also take withdrawals.Answered on September 13, 2013flag this answer
37376 POINTSview profileDavid G. Pipes, CLU®, RICP®Business Development Officer, T.D. McNeil Insurance Services, Fresno, CaliforniaAnnuities meet the needs of a great many people. I suppose the most obvious need is that an annuity can provide an income that you cannot outlive. In retirement income planning there are some who feel that establishing a base income using an annuity is extremely important as it then allows the retiree to spend or invest the balance as appropriate for their standard of living.Answered on September 17, 2014flag this answer
1976 POINTSview profileRonald HinchRegional Marketing Director, Capital Choice Financial Group,Annuities have grown in popularity over the last 20 years because of the market fluctuations and the ability to leverage retirement savings into a much better cash flow and one that cannot be outlived. The key here is the term outlived and has been a growing problem as retirees are living longer and there is less retirement savings to rollover. So, the individual or family benefits in providing a steady income while living and when deceased most annuities have a death benefit that goes to the designated beneficiary.Answered on July 14, 2016flag this answer
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