When it comes to guaranteed lifetime income, retirement savers are increasingly turning to annuities. It gives them peace of mind knowing they will get a fixed payment monthly and that they won’t run out of money in retirement.
Plus, depending on the annuity they purchase, they don’t have to worry about it tanking in the markets like stocks have been doing lately. It’s a big concern for millions of Americans, which is partly why annuity sales topped $100 billion in the first quarter, according to LIMRA, the insurance trade association. It's the sixth quarter in a row in which annuity sales were over $100 billion.
