Launches Free New Online Guide Helping Consumers Successfully Navigate the Challenge of Creating Guaranteed Lifetime Income

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As companies continue cutting pension plans, launches its free online guide educating consumers about the benefits and risks of Single Premium Immediate Annuities (SPIA), which are increasingly marketed to a growing number of retirees and others as a way to provide a lifetime of guaranteed retirement income.

According to the Social Security Administration, nearly 10,000 people a day are turning 65 and less than 20% have employer pension plans that provide guaranteed income for life. When combined with low interest rates, volatile financial markets, and uncertain investment returns, many recent and soon-to-be retirees face difficult decisions about how to provide a reliable source of income from their 401(k), IRA, or other savings. A product that offers the ability to solve this problem is the Single Premium Immediate Annuity (SPIA), often called a life annuity or immediate income annuity. It pays a fixed cash amount each month that is guaranteed for life and starts as soon as the one-time premium is paid. There are no complicated fee structures or investment accounts and often provides payments greater than other financial options. However, like with any product there are advantages and disadvantages and is not appropriate for all consumers.

Rare among websites proving information about financial products, does not sell any products and is not affiliated with any insurance company, agent, or broker. Its free online consumer guide provides unbiased and factual information to educate those considering an immediate annuity and neither recommends nor advises against purchase. The guide examines all aspects of the product, both positive and negative, and provides, in easy-to-understand language, answers to more than 35 questions and concerns consumers have such as:

  • Benefits and Risks
  • Costs and Fees
  • Comparison with other financial products, such as CDs and mutual funds
  • When someone should avoid purchasing an immediate annuity
  • How immediate annuities can provide for a spouse
  • Impact of inflation on annuity payments also provides a unique comprehensive list of all companies offering SPIAs so consumers can obtain price quotes from as many companies as desired. Often individuals are solicited by one company through direct mail or by insurance agents representing only a few companies and are simply not aware of SPIAs from other companies offering a higher level of income. While this consumer guide does not endorse any company, it provides consumers access to all available information and the ability to make a fully informed decision on their terms. is owned and operated by Baaron's Hill, LLC, a provider of informational and educational public interest websites.

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Ken Decker
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