A new Gallup poll shows that, despite a downturn in the financial markets, a majority of annuity holders feel secure about their retirements. The poll, conducted in partnership with the Committee of Annuity Insurers, revealed that middle-class people rely heavily on annuity products in their retirement planning.
As IRI president Cathy Weatherford explained, “The findings of this poll help to underscore an emerging trend within retirement planning: As more and more Americans begin to take on a renewed responsibility for their retirement security, they are increasingly turning to annuities as the solution to help fund their golden years.”
As Weatherford points out, in generations past, the guaranteed income of Social Security gave retirees confidence that they would receive a certain income. But as the future of Social Security has become more uncertain, the guaranteed income provided by annuity products has become more attractive to those wishing to secure their futures. Buyers of these products enjoy the peace of mind provided by an insured retirement strategy.