The boom in sales of fixed immediate annuities

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Article Submitted by: ktexas
Retirement Planning

Tags: Annuities, Investing, Retirement planning, Guaranteed income, Immediate annuities, New york life.

One unexpected side effect of the recent financial crisis: a boom in sales of fixed immediate annuities, which dispense guaranteed income for life. Sales at New York Life, the largest issuer, hit $425 million in the first quarter, up 82% from last year.

Unlike fee-laden deferred and variable annuities, immediate ones are likely to be a square deal for buyers.

Submitted: May 14, 2009 Views: 188 Comments: 0 Likes: 1

View Article: http://finance.yahoo.com/focus-retirement/article/107073/Guaranteei...

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The Best Savings Rates, CD Rates, and More

Other writing by ktexas

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