The average age at which one buys an annuity is their early 60s, with the majority of annuities purchased by individuals between ages 55–70. According to Oxford Economics, the U.S. population aged 65 and up is expected to grow by more than 8.3 million from 2022 to 2027, and so the number of individuals buying an annuity is similarly expected to grow.
Why? While there are multiple reasons, the two most essential are how important it is to have a product with protection features, and how important it is to have a product that can provide a stream of income you can’t outlive. Give us a call: Whether you own one of these products already or not, we can offer further insights on them. We’re always here to help.