Risks of annuities for seniors

    • [PDF File]PDF The Society of Actuaries: Today's Retirement Risks Fact Sheet ...

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      Today's Retirement Risks Understanding Risks Actuarial Approaches to Manage Risks Inflation From 1980-2007, annual inflation in the US for all items ranged from 1.1% to 8.9%, and has averaged 3.5%. Strategies should include investing in equities, ownership of home and other assets, Treasury Inflation Protected Securities, annuity

    • [PDF File]PDF C onsumer Affairs Division Arizona Department of Insurance ...

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      ANNUITIES FOR SENIORS Frequently Asked Questions: Is an annuity right for you? To determine if a particular annuity product is right for you, think about your financial goals, investment amounts, timing and length of investment, and most importantly, the amount of risk you're willing to take. Be aware that annuities are not liquid investments

    • [PDF File]PDF FINRA Investor Alert: Variable Annuities: Beyond the Hard Sell

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      Variable Annuities: Beyond the Hard Sell The marketing efforts used by some variable annuity sellers deserve scrutiny— especially when seniors are the targeted investors. Sales pitches for these products might attempt to scare or confuse investors. One scare tactic used with seniors

    • [PDF File]PDF Starting the Retirement Income Conversation

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      annuities, all of which offer protected lifetime income. Depending on the type of annuity you choose and the benefits offered, there may or may not be direct costs. With certain annuities, expanded optional income protection is avail - able for an additional cost. Ask for a personalized illustration to determine

    • [PDF File]PDF Annuities for Seniors CU edits

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      Annuities are complex contracts and it is easy to misunderstand or be misled about the benefits and risks if you don't carefully evaluate your purchase. Protect yourself: ; Consider having a trusted family member or friend with you during the sales presentation. ; Ask your agent (or producer) or the company for an explanation of

    • [PDF File]PDF Financial Tips for Seniors

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      Financial Tips for Seniors • 15 quick tips for protecting your finances • How older adults can steer clear of scam artists • Things to consider before borrowing from your home • Ways to help your relatives…and risks to avoid • Key facts about your FDIC insurance

    • [PDF File]PDF The "Risk" of Ignoring Risks in Retirement Financial Planning

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      Seniors with savings manage financial and longevity risk in two general ways: (1) by transferring the risk, which can be done formally through the purchase of insurance products (such as annuities), or informally through transfers of wealth and services traditionally done within the family; and/or (2) by self-managing the risk.

    • [PDF File]PDF Annuities and Senior Citizens Senior Citizens Should Be Aware ...

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      Or, am I somewhere in between and willing to take some risks with an indexed annuity? Understand the Product You are Buying When it comes to annuities, inappropriate sales practices can occur in many ways and come from a variety of sources. Anyone can be a victim, but senior citizens remain a prime target. Here are a few ways to protect yourself:

    • [PDF File]PDF Investment Products and Sales Practices Commonly Used to ...

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      two insurance agents who fraudulently sold charitable gift annuities to seniors, telling them that their money would be invested in secure accounts. Instead the funds were placed in high-risk, speculative investments with the potential for a complete loss of those funds, and the insurance agents helped themselves to $1.3 million in commissions.

    • [PDF File]PDF How to Make Your Retirement Savings Last As Long As You Do - AARP

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      immediate annuities. They figure if they die in a few years, the money they spent on the annuity was wasted. You could look at it that way. Or you could say that it did its job and gave you the income you needed while you were around to use it. How to Make Your Retirement Savings Last As Long As You Do

    • [PDF File]PDF Bill Analysis and Fiscal Impact Statement

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      Equity indexed annuities are often aggressively marketed to seniors in Florida. The products are touted as a vehicle for investors to realize gains similar to those in the stock market without the corresponding risk. However, such annuities rarely provide returns that are the equivalent of a stock market index.

    • [PDF File]PDF FACTS ABOUT ANNUITIES Is My Annuity Protected

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      FACTS ABOUT ANNUITIES NAFA.com Is My Annuity Protected If My Insurance Company Fails? J UNE 2 0 1 4 Yet many people do not know there is a difference between the insurance protection offered to bank deposits by the Federal Deposit Insurance Corporation (FDIC) and the insurance protection to annuity deposits (premiums).

    • [PDF File]PDF The Retirement Incom e System and the Risks Faced by Canadian ...

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      In this paper, we use a risk framework to analyze the risks seniors face and discuss the success of Canada's retirement income system in insuring against these risks. We focus on four types of risk: (i) the risk of low income at the onset of retirement, (ii) longevity risk, (iii) business cycle risk, and (iv) decision-making risk. The research

    • [PDF File]PDF California Annuities 4 Hour CE Course - Sandi Kruise Inc

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      California Annuities 4 Hour CE Course IV. How fixed, variable, and index annuity contract provisions affect ... variable annuities or indexed annuities. Both include risks that could substantially effect ... product-specific annuity advertisement targeted at seniors 65 and older to have written ...

    • [PDF File]PDF Managing the Risks of Retirement - WISER Women

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      • Women who purchase immediate annuities with part of their savings can have a guaranteed stream of income over their lifetime, and are less at risk of running out of money. Annuities are purchased from Managing the Risks of Retirement WISERWoman There are bumps and pitfalls during the average 20-year retirement period that put women at risk ...

    • [PDF File]PDF Understanding Annuities Guide

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      Risks As with all investments, annuities carry some risks. These risks and how they are managed, are described in the product disclosure statement (PDS) for the relevant annuity. Therefore, before deciding to invest in an annuity, you should read the PDS and consider the suitability of the annuity to your circumstances.

    • [PDF File]PDF 204 ANNUITY 4-HOUR SUITABILITY

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      Care owed to seniors 41 Client confidentiality 41 Controlling risks 42 Determining need for annuities 31 Detrimental reliance 19 Direct mailers 13 Ethics 39 Fines 14 Forgione v. State Farm 7 Free look 37 Full contract disclosure 36 Good faith and fair dealing 30 Hardship criteria 29 Home equity limit 29 In-home solicitation 22

    • [PDF File]PDF NATIONAL SENIOR INVESTOR INITIATIVE

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      OCIE/FINRA National Senior Investor Initiative . Building on prior regulatory initiatives, OCIE's National Examination Program staff, in coordination with FINRA, initiated a series of 44 examinations of broker-dealers focused on the types of securities senior investors were purchasing and the methods firms were using when recommending securities.

    • [PDF File]PDF Beware of Unsuitable Investments for Seniors - Lori Swanson

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      Immediate annuities vs. deferred annuities. ... annuity products may also carry risks, such as long-term deferral periods, barring investors from accessing all of their money. ... Beware of Unsuitable Investments for Seniors The Office of the

    • [PDF File]PDF Post-Retirement Risks and Related Decisions

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      Post-Retirement Risks and April 2017 Related Decisions By Anna Rappaport, Chairperson, Society of Actuaries Committee on Post-Retirement Needs and Risks Understanding and Managing Post-Retirement Risks A series of reports presenting highlights from the Society of Actuaries extensive body of research on post-retirement risks and issues.

    • [PDF File]PDF Insurance Guidance for Seniors - University of Hawaii

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      insurance, annuities, pensions, and policies to avoid. In addition, ratings were given for more than 200 companies. Good choices make good insurance . While seniors spend a great deal on insurance, they fre­ quently do so without the benefit of objective information or advice. Few understand what is and is not covered by

    • [PDF File]PDF NATIONAL SENIOR INVESTOR INITIATIVE

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      OCIE/FINRA National Senior Investor Initiative Building on prior regulatory initiatives, OCIE's National Examination Program staff, in coordination with FINRA, initiated a series of 44 examinations of broker-dealers focused on the types of securities senior investors were purchasing and the methods firms were using when recommending securities.

    • [PDF File]PDF Senior Designations for Financial Advisers

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      seniors. It is the only federal office devoted exclusively to protecting the financial health of ... Commission, entitled Senior Designations for Financial Advisers: Reducing Consumer Confusion and Risks, as required by law. Congress directed our Office for Older Americans to ... annuities and ...

    • [PDF File]PDF Social and Economic Risks to Seniors in Ontario

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      While some risks affect seniors primarily as individuals, others affect them as a group. Many health and investment risks are of the former kind. But a new virus or a secular decline in interest rates affect broad groups of seniors together. And there is also the risk of changes in social and political conditions and institutions. Crime rates may

    • [PDF File]PDF Annuity Planning Kit - Amazon Web Services

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      adding annuities to your portfolio. The SMS Annuity Planning Kit shows you how and where annuities fit in the retirement planning process and gives you the foundational information and framework you need to be successful in the annuity marketplace. Introduction Not for use in solicitation or advertising to the public. For Agent Information Only.

    • [PDF File]PDF California 4-Hour Annuity Training Course - Infinity Schools

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      California 4-Hour Annuity Training Course 4 Hour California Insurance ... Warning From Attorney General To Seniors about "Living Trust Mills" and Annuity Scams 35 ... All annuities are tax-deferred, meaning that the income resulting from the growth of the assets ...

    • [PDF File]PDF Seniors - The Laws, The Rules, The Cases

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      Seniors - The Laws, The Rules, The Cases Annuities Registered persons and fi rms continue to face sanc-tions from both FINRA and state regulators for the improper sale of variable annuities to seniors. FINRA recently fi ned a large fi rm and ordered the fi rm to pay more than $260,000 in restitution for a

    • [PDF File]PDF LERACH COUGHLIN STOIA GELLER RUDMAN & ROBBINS LLP - Indiana

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      selling its deferred annuities to unsuspecting senior citizens that omit key risks and adverse information even from its sales agents. And, in concert with the Affiliated Agents, Conseco systematically misrepresents that such annuities are appropriate investments for seniors, while

    • [PDF File]PDF Achieving a Sustainable Retirement: Risks and Strategies for ...

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      of annuities or long-term care insurance (Society of Actuaries, 2015 Risks & Process of Retirement Survey)(SOA survey 2015) 5. Social Security is especially important to older seniors Half (50.2%) of beneficiaries ages 65-69 get 50% or more of their income from Social Security; 3 out of 4

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