Most Lifetime Income Product Owners Like the Products: Cannex

For the current annuity owners, the best argument in favor of buying an annuity was, “The products will continue paying for the rest of your life, even if you live for a long time.”

About 44% of the annuity owners called that the best argument for owning an annuity with guaranteed income.

Other survey findings:

• About 71% of all participants said they liked the idea of owning a product that’s “part of a broader floor strategy of how to cover essential expenses.”
• About 44% said they’ve heard positive things about annuities. Only 18% remembered hearing negative information about annuities.
• Older consumers still care deeply about long-term care costs: 27% of the survey participants rated “not being able to afford long-term care expenses” as a top concern in retirement. LTC costs ranked first as a retirement concern. The possibility of losing savings because of a market downturn and not being able to afford health care costs in general tied for second.

Resources

Links to documents related to the survey are available here.

— Read Consumers Say They Hear Good Things About Annuities: Cannex, on ThinkAdvisor.

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