What does 2013 hold for the retirement industry – besides the hope that something finally happens on still-unresolved fiscal cliff issue?
Taking a look at the year ahead, one prediction suggests that retirement-friendly deferred income annuities might become one of the biggest selling products – at least according to the Insured Retirement Institute.
The IRI's 2013 outlook, "The State of the Insured Retirement Industry," suggests that the products, which experienced their first year of significant sales in 2012, are poised to be the fastest growing product in the new year. Deferred income annuities offer a measure of "longevity insurance" as part of their design, allowing their owners to defer the start of the product's guaranteed income stream until a later date. Six companies currently offer a DIA or will be introducing one in the new year.
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