Rolling Stones concert goers will get schooled on lifetime income.
That's a comeback from 2017, when annuity sales fell by 8.4% from 2016. Part of that slide can be attributed to "downward pressure" from a conflict of interest rule from the Department of Labor, according to research from Cerulli Associates, a financial services research firm.because of their complexity and the high risks that they may not be in clients' best interests. Individuals may not be aware that these strategies exist to help them stretch out the money they have saved.
The alliance's push comes at a time when most insurers — 94% — said that negative press around variable annuities is a "major hurdle" in selling them, according to a recent report from the Insured Retirement Institute. In the movie "Almost Famous," band manager Dennis Hope, played by Jimmy Fallon, cautions members of the fictitious band Stillwater, "If you think Mick Jagger will still be out there trying to be a rock star at age 50, you are sadly, sadly mistaken."
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