Filed Under:Markets, Senior Market

Seniors can benefit from annuities

Opinion

A senior center in Brooklyn, NY. AP Photo/Jon Gerberg, file.
A senior center in Brooklyn, NY. AP Photo/Jon Gerberg, file.

There are more than 43 million seniors age 65 or older in the United States today, making this community a prime target for annuity sales. However, the matter of how to market ethically to this demographic can be controversial and complex.

First, recognize that some seniors will benefit from buying an annuity and some will not. There can be myriad benefits depending on the age of the annuity purchaser, the type of annuity and the goals of the purchaser. The next factor to consider is the suitability of the annuity for the consumer, based on the potential buyer’s financial portfolio. Finally, to prevent elder abuse, it’s important to take precautions when selling any financial products to this group.

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Nichole Morford

Nichole Morford
Managing Editor

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