Only Insured Retirement Strategies Guarantee Lifetime Income

WASHINGTON, D.C. -- President Barack Obama tonight called for all Americans to have access to retirement accounts in his State of the Union address.

On Monday, the president said he would be "promoting" annuities in 2010 and charged Vice President Joseph Biden and his Middle Class Task Force with "Promoting the availability of annuities and other forms of guaranteed lifetime income, which transform savings into guaranteed future income, reducing the risks that retirees will outlive their savings or that their retirees' living standards will be eroded by investment losses or inflation." CLICK HERE to read the Task Force's agenda on annuities.

"Annuities stand alone in guaranteeing lifetime income throughout retirement," said Cathy Weatherford, President and CEO of the Insured Retirement Institute (IRI). "When you consider the new retirement reality in America - defined by the unsure footing of Social Security, the near disappearance of pension plans and the record losses in 401(k) plans - it is clear that Americans planning for retirement must have a second form of guaranteed retirement income. President Obama's comments this week should serve as a call to action for consumers of every age to not only rethink their retirement savings strategy, but also to consider the unique peace of mind and value annuities provide through guaranteed retirement income. We applaud the president for his commitment to strengthening financial security for retirees and look forward to working with the administration and Congress to further promote the distinctive value of annuities."

Why is President Obama Promoting Annuities?

• 1. Guaranteed payments: throughout the recent crisis, not one annuity provider ever missed a payment - not even one;
• 2. Unparalleled consumer protections: provides insurance benefits and peace of mind no other product can;
• 3. Resilience: the overall value of annuities have already regained pre-crisis levels while payments never decreased;
• 4. Save now, pay later: allows tax-deferred savings until you withdrawal the money;
• 5. Possibilities without pitfalls: provides risk-adverse consumers the opportunity to re-enter the market but with guarantees.

Additional retirement planning resources can be found online at www.IRIonline.org

About the Insured Retirement Institute: The Insured Retirement Institute (IRI) is a not-for-profit organization and is the authoritative source of all things pertaining to annuities, insured retirement strategies and retirement planning. IRI exists to vigorously promote consumer confidence in the value and viability of insured retirement strategies, bringing together the interests of the industry, financial advisors and consumers under one umbrella. IRI's mission is to: encourage industry adherence to highest ethical principles; promote better understanding of the insured retirement value proposition; develop and promote best practice standards to improve value delivery; and to advocate before public policy makers on critical issues affecting insured retirement strategies. Visit www.IRIonline.org to experience the new, vast resources of the new Insured Retirement Institute for yourself.

                                                                  -- END --