DES MOINES, Iowa--(BUSINESS WIRE)--In a time when many people are working past 65, a traditional retirement age, they are searching for retirement savings options that provide balance, growth, and reward. They are finding it with fixed indexed annuities (FIAs). The FIA is a popular retirement tool that can help supplement social security benefits, pensions, 401(k)s, and individual retirement accounts (IRAs). A recent LIMRA study found that 83 percent of FIA buyers were happy with their annuity; five of six individuals would recommend them to others.
“Saving for retirement is getting more difficult for individuals and families,” said Jim Poolman, Indexed Annuity Leadership Council (IALC) Executive Director. “People are losing retirement benefits which inhibits the ability to save, and the 401(k) is getting less dependable because of market volatility and fluctuations. An FIA provides opportunities for growth, steady guaranteed lifetime income, and protection of principal from market instability.”
FIAs are insurance products designed to offer balance in a financial plan that is tax deferred. It is tied to a market index so it has the chance to grow as the market grows, but it protects the principal when the market fluctuates, keeping a nest egg secure.
“FIAs offer income for life because they are designed to grow even in times of unstable market activity,” said Poolman. “They are safe and dependable because the money invested has the ability to grow risk free.”
About the Indexed Annuity Leadership Council
The Indexed Annuity Leadership Council (IALC) brings together a consortium of life insurance companies with a commitment to providing consumers, the media, regulators and industry professionals complete and factual information about the use of indexed annuities. Namely, that these products provide a source of guaranteed income, principal protection, and interest rate stability in retirement as well as balance to any long-term financial plan.