DES MOINES, Iowa, Feb. 17, 2015 /PRNewswire-USNewswire/ -- Fixed Index Annuities (FIAs) observed the 20th anniversary of their introduction to the marketplace today. On Feb. 15th, 1995, FIAs were first announced to consumers as a key component for helping plan a secure, dependable source of income for retirement. After 20 years they continue to play an important role helping Americans feel stable and confident in their retirement planning.
"Today is a milestone because regardless of the ebbs and flows of the market, the security and dependability of FIAs has been a constant for two decades and counting," said Jim Poolman, Indexed Annuities Leadership Council (IALC) executive director. "While the economy over the last 20 years has been volatile, the popularity of FIAs has continued to grow because of the important role they play as part of a balanced retirement-focused portfolio."
FIAs are an insurance product designed to offer balance in a financial plan. It is tied to a market index so it has the chance to grow as the market grows, offering interest to grow your money. An FIA also protects the principal when the market fluctuates, keeping a nest egg secure.
The Indexed Annuity Leadership Council (IALC) brings together a consortium of life insurance companies with a commitment to providing consumers, the media, regulators and industry professionals complete and factual information about the use of indexed annuities. Namely, that these products provide a source of guaranteed income, principal protection, and interest rate stability in retirement as well as balance to any long-term financial plan.
SOURCE Indexed Annuity Leadership Council