Leslie Scism
speaker
504 appearances
9 recordings
1 series
first heard Sep 2017
last heard May 2023
Leslie Scism’s voice in public audio — every appearance, attributed to the second.
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The life insurer then promises to return the
your principal with a specified amount of annual interest to you at the end of the period specified in the contract.
These are called fixed rate annuities.
They're not variable rate.
So the contract specifies a fixed rate of interest per year.
Three to five years is typically what consumers like.
They can go as short as one year.
They can go seven or even longer years.
The insurance company then has a fixed rate.
It is an annual interest rate it promises to pay you.
And it's going to pay that per year.
And then at the end of that period, you're going to get your money back from the insurance company.
You'll get your principal and your interest.
Annuities typically are favored by older people, and by older, I mean folks in their 50s all the way into their 70s.
At New York Life and some of the other life insurers I spoke with, the typical buyer is putting $150,000 into one of these contracts.
So you can see it's not typically something that a young person goes for.
Young people often will have more of their money in stocks.
They want to get the capital gains, the growth from these stocks, whereas older people are starting to put larger parts of their portfolios into safer investments.
less volatile investments and that's often been muni bonds or bond funds from mutual fund companies or annuities.
And in recent years, the bond funds have been very popular with a lot of the people in the 50s, 60s age range.
Showing 61–80 of 504 · page 4 of 26
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