Millennials hungry for growth and protection, Lincoln Financial Group finds

In recognition of Annuity Awareness Month, Lincoln Financial shares how annuities can offer younger investors the growth potential and downside protection they’re seeking, with optional benefits and riders to custom-fit their unique retirement income goals.

Ready, Set … Grow!

Annuities with additional cost benefits offer guaranteed growth potential and provide investors with lifetime income they can use to help maintain their lifestyle in retirement. This growth potential is a key feature of annuities, with different options and benefits to customize the growth that best suits the investor. Like buying a car or house, these options allow them to select the features that are most important and valuable to them.

A quarter of younger investors surveyed agree that an annuity is a better option for growth opportunities in the current interest rate environment than a savings account.² Yet, only 12% were aware of the opportunity for tax-deferred growth provided by an annuity.¹ With an annuity, the buyer’s money can grow tax-deferred until it is withdrawn, maximizing the investment’s growth potential.

The Power of Protection

The majority of millennials surveyed are most concerned about volatility (61%) and market loss (63%). Annuities with benefits can help ensure that retirement income is protected even when there are downturns in the market – providing income protection is unlike other insurance products.

Seifert continued, “Younger investors may have been affected by financial loss first-hand, given the uncertainty of the last few years and, before that, the market volatility during the Great Recession. Through various product features including triggers, annuities offer protection against loss during periods of market uncertainty, and opportunities for growth during rebounds.”