Investors planning for retirement want simple products with low fees. The insurance industry’s answer: deferred-income contracts.
Insurance companies have a long history of conjuring up new types of annuities to suit changing market conditions, and once again they’ve proved to be the masters of reinvention. Their latest brainchild: the deferred-income annuity, which has seen explosive growth since it was introduced three years ago, thanks mainly to its simplicity. You put money into the annuity, and then, two to 40 years later, you can activate a stream of income that is guaranteed to last a lifetime — even if you live to 100 or beyond.
Read the complete article to see AnnuityAdvantage’s own Senior Annuity Analyst, Debi Dieterich quoted in this year’s 2014 Barron’s Top 50 Annuities (subscription required).
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