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Did You Know?
- That, as of the first quarter 2011, the combined net assets of U.S. variable annuities were valued at nearly $1.6 trillion, an 11% increase from first quarter 2010 and the highest level ever recorded?
- In 2010 fixed annuity assets were valued at $659 billion a 6% increase from 2009?
- That in 2010, the total average expense difference between variable annuities and mutual funds was 1.01%?
- In 2011, the contribution limits range from $5,000-$6,000 for an IRA, $16,500-$22,000 for a 401(k) and $200,000 plus for a non-qualified annuity?
- That the average number of funds per variable annuity contract was 50 in 2010, of which 47% of assets were invested in equities, 11% in bonds, and 20% in fixed-rate accounts?
- That the guaranteed lifetime withdrawal benefit was offered on 79% of variable annuities in 2011 and was elected by 65% of contract holders?
- Boomers who own annuities have a higher confidence in retirement expectations, with 92% believing they are doing a good job in preparing for retirement?
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Frequently Asked Questions (FAQs)
The Insured Retirement Institute's mission is to provide financial advisors, the media, regulators, and other interested parties with information and resources to assist in a better understanding of annuities. The following are answers to frequently asked questions.
Recommended by 20 people What types of annuities are available?
There is a wide variety of annuities available today to meet the specific needs of each individual.
Recommended by 18 people Who are the parties to an annuity contract?
Most annuity contracts – and all commercial annuity contracts – are issued by life insurance companies. When the purchaser completes the application to buy an annuity, the contract owner, annuitant, and beneficiary are designated and identified as such in the contract.
Recommended by 1173 people What are the Top Ten Ways to Prepare for Retirement?
The following are the key activities that an investor should consider when preparing for retirement planning.
Recommended by 634 people Who Should Own an Annuity?
Annuities are appropriate for people with long-term investment horizons who are saving for retirement.
Recommended by 532 people About Annuities
Annuities have been around for centuries. In early Roman times, citizens would make a one-time payment to a contract known as an annua in exchange for income payments received once a year for the rest of their lives. Today an annuity is an insurance agreement that comes in a number of different forms and can (1) help individuals accumulate money for retirement through tax-deferred savings, (2) provide them with monthly income that can be guaranteed to last for as long as they live, or (3) do both.
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