Deferred income annuities (DIA) are a rising star among retirement offerings. DIA sales have increased in five consecutive quarters and experienced a year-over-year jump of 150 percent in the first quarter of 2013. Companies offering DIAs, or those who have filed to offer, have doubled to more than a dozen since 2012. And 70 percent of annuity owners are confident they will have enough money to pay for long-term care expenses, compared with 54 percent of those who do not own an annuity.
DIAs are expected to continue to grow faster that any other retirement product through 2014, according to “Deferred Income Annuities: Insuring Against Longevity Risk,” a new report from the Insured Retirement Institute.
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