In The ABCs of Annuities series, each three- to five-minute segment explores a different topic: Retirement Realities, Annuity Basics, and Annuity Myths and Truths. The animated videos address why it’s important to take an active role in planning for retirement, how annuities can fit into a well-rounded retirement plan, and how today’s annuities have evolved from those in the past.
A recent Allianz study found that for the second year in a row,boomers remain more attracted to guarantees for their retirement savings than potential high returns with market risk (see “Boomers Desire Guarantees More than High Returns“).
However, annuities face a number of misperceptions, says Katie Libbe, Vice President of Consumer Insights at Allianz Life. More than half of the respondents in the Allianz Life study expressed distaste for the word “annuity”— even after describing an annuity-like product as their ideal financial vehicle. Moreover, annuities continue to be seen as very confusing, and many people admitted their opinions were formed 10 to 20 years ago, and that they hadn’t researched annuities since.To access The ABCs of Annuities, visit www.allianzlife.com/GetInformed/ABC_Annuities.aspx.