Filed Under:Annuities, Variable

Variable Annuities and Seniors: A Good Mix?

Photo credit: stockimages
Photo credit: stockimages

Recently, we reached out to seniors to get their thoughts on variable annuities. We wanted to know their thoughts on the products, but something else emerged from the discussion: They really don’t know much about them.

“I’ve heard the term before but to tell you the truth I don’t really know anything about them. I have a financial advisor who brought them up to me one time but they seemed so dang complicated. I asked him to slow down and then I asked him to go on to the next investment option. I have my money tied up in real estate mostly, and for now I’m going to keep it there because I don’t want to put it in a bank these days either.

Larry, 66


“Too risky for me. I had money tied to the stock market in 2008 and lost my shirt. I don’t know very much about variable annuities but I do know enough to know there’s too much risk involved. I don’t have a ton of money to throw around in the first place. I’m disabled from my job and personally I worry a whole lot more these days about health care and how I’m going to pay for the care I’m going to need. I’m scared to death about the health care situation right now.”

Jason, 62

Brooklyn, N.Y.

“I don’t know much about them. My advisor is more about ETFs. We talked about variable annuities during our annual visit. He looked at my accounts and showed me a diagram about what would happen with my money in the stock market versus a regular annuity versus a variable annuity. At the end of the day I liked where my money would go in the regular annuity.”

Greg, 60


“I don’t think so. My wife and I have our money invested in our house and we have a rental property as well. We invested in that with our two kids and have done fairly well with it. As far as financial investments, our family is not really in the market for that. ”

James, 70

St. Cloud, Minn.

Tell us: Do your clients feel the same way about variable annuities?

For more from Daniel Williams, see:

Featured Video

Most Recent Videos

Behind the scenes with Vicki Gunvalson [VIDEO]


In this exclusive interview, Vicki Gunvalson shares how she built a $15 million a year annuity business by planning for...

Regulator: Market may need to reinvent LTCI


Cioppa says Maine's governor wants to spur the creation of better products.

Dementia: It's more than Alzheimer's


An association calls for policymakers to remember lesser-known neurodegenerative conditions.

Protesters Disrupt WellPoint Annual Meeting


Hecklers call for more disclosures of information about political contributions.

Related resources

More Resources


Power your business with up-to-the-minute insurance news, analysis, and best practices from LifeHealthPro Daily eNewsletter – FREE.

Power your business with LifeHealthPro Daily eNewsletter – FREE.

Enter a valid email address.
Nichole Morford

Nichole Morford
Managing Editor

Thank you for subscribing to LifeHealthPro Daily!

Check Out More eNewsletters Now! Close

Advertisement. Closing in 15 seconds.