Annuities are a financial contract with an insurance company that make a series of income payments to you at regular intervals in return for a premium and premiums previously paid. The value in an annuity contract is the amount in premiums you have paid, minus any applicable charges, plus any interest your premiums have earned. There are two types of annuity products: deferred annuities and fixed deferred annuities.

“Should I buy an annuity with my 401(k) or roll my 401(k) into an IRA?” Many people struggle with the annuity vs. an IRA question as they approach retirement.

Before we delve into the pros and cons, it’s important to understand the nature of each type of retirement plan. Below are brief descriptions.

Life insurance is a crucial part of any solid financial plan, but 41% of Americans say they don’t have sufficient life insurance coverage. That's why NAIFA partner Life Happens created Life Insurance Awareness Month (LIAM) and why NAIFA strongly supports efforts to promote the benefits of life insurance during September and all year long. For agents and advisors, LIAM is the perfect time to meet with your clients to make sure their life insurance coverage meets their needs. 

This year's LIAM spokesperson is Roselyn Sánchez, actress, producer, proud Puerto Rican, and mother. She is featured on many of the LIAM promotional materials available from Life Happens.

"Let's educate people about the importance of life insurance so they can make that easy decision for their family," Sánchez says.

If you’re in the market for life insurance, you have many options, but the most common choice is term life insurance. 

It’s often the least expensive policy and it’s the easiest to get. It’s a temporary policy so there’s a lot you must understand about how it works. Here’s what you must know about it. 

Life insurance is vital to protect your loved ones financially when you die. While no one likes to think of the worst happening, planning is essential because life is unpredictable.

Whole life insurance is a form of permanent life insurance that protects your beneficiaries for your entire life. It doesn’t expire.

Here’s what you must consider when deciding if whole life insurance is right for you.

What is an annuity?

An annuity is a financial product that provides regular and guaranteed payments to an individual, typically for a period of time after retirement. Annuities are often used as a retirement planning tool, as they can provide a guaranteed stream of income for life. This can be especially helpful for those worried about outliving their savings. 

Do you ever worry about what will happen if something happens to you? Not the fear that grips you when you are alone in your home at night, but the stress and anxiety associated with trying to provide for your family, pay off debt, or maintain your lifestyle. This is where investing in life insurance can have various benefits.

New research by LIMRA and Life Happens shows two significant trends: life insurance is key to financial security and gender gaps extend to life insurance coverage.

Financial Security with Life Insurance

Financial insecurity affects all age groups, but one thing is clear: having life insurance increases Americans' feeling of financial security. 68% of life insurance owners feel financially secure compared with 47% of non-owners, and those who feel most secure have coverage both through their employer and a separate individual policy. The study also showed that the COVID-19 pandemic had increased awareness of the need for life insurance, with 31% of those surveyed saying they are more likely to buy life insurance in 2022.