Allianz Life Insurance Company completed a recent survey of Baby Boomers, “Transition Boomers and Retirement Income”. The survey suggests that Baby Boomers are more interested in guaranteed income rather than higher returns. However only 25% of those surveyed owned an annuity. Most of those surveyed admitted not even knowing much about annuities.
More women than men desired guaranteed income and with women getting ready to inherit more than 2/3rds of the wealth in the U.S., women should be a prime target for annuity sales. Baby Boomers also preferred a financial product that guaranteed a 4% return over one that had an 8% return with the possibility of losing value in the market.