People have a lot of investment options when it comes to planning for their retirement. A study by a large life insurance company reveals many people have incorrect notions about annuities and may be missing out on a solid investment because of it.
A survey of more than 3,200 Americans found more than half of adults between the ages of 44 and 75 don't like annuities. However, such individuals formed their perception of annuities one or two decades ago. Changes to annuities have taken place within that time frame, although 64 percent of respondents said they have not researched annuities recently.
Those who have purchase annuities tend to be happy with their investment choice. More than 75 percent of survey respondents with annuities said they were "very happy" with their selection. The majority of survey respondents said they are pleased with their annuity investment because they feel it is a safe, long-term investment.
Whether a person decides to take a second look at annuities, term life insurance, or another option, it's best to carefully look at all available options. Some investment options make more sense than others depending on a person's individual situation and goals.