Steve Ruckart, an advisor with RAI Advisors in Murfreesboro, Tenn., adds, “Some advisors do not realize you can get guarantees against losing the principal when you buy an annuity.
“In some states, money put in an annuity is also protected from creditors,” Ruckart says. “Clients also need to know that they get to choose the investments when they have a variable annuity. Advisors should let their clients know about the many options.”