The Annuity Market Sees Surge in Sales Amid Rising Interest Rates
Annuities are experiencing a resurgence in popularity after years of decline, with recent industry data showing sales reaching a 10-year high. The market's revival can be attributed to rising interest rates, which have improved the income offerings on annuities. This increased certainty is crucial for retirees planning their long-term income.
- Annuity providers often view health information as a critical factor in determining income payouts, making it essential for individuals to be transparent about their medical conditions.
- Will the growing trend of annuity sales lead to an increase in guaranteed income products being offered by traditional retirement account platforms, such as pensions and 401(k)s?