MetLife Research Reveals Only 1 in 10 Financial Advisors Would Buy Life Time Annuity

Accordingto research by MetLife, only one in ten financial advisors would use theirretirement fund to buy a traditional or enhanced lifetime annuity.  Themanaging director at MetLife, Dominic Grinstead, stated, “There is strongdemand and growing interest in alternatives to conventional annuities andinnovation is crucial in driving expansion in the retirement income solutionsmarket.”

Becausethe future yields and annuity rates are both uncertain and low, the majority ofadvisors would not risk putting their retirement in lifetime annuities. About16% claim they would wait before making a decision in the current economy and21% would rather use drawdown, unit like guarantees, and fixed term annuities.

See Gill Montia Just One in 10 Financial Advisors Would Buy a Lifetime Annuity,  Banking Times,  Aug. 13, 2013.

Special thanks to Brian Cohan (Attorney at Law, Law Offices of Brian J. Cohan, P.C.) for bringing this article to my attention.