Obama Proposals Could Boost Annuity Sales

February 1, 2010

To help the middle-class save for retirement, President Obama may have also given a boost to the annuities sector.

Last Monday, Obama proposed a series of measures, including expanding existing tax credits for child care and retirement savings, and providing financial relief for families caring for children and the elderly.

The White House also plans to promote "the availability of annuities and other forms of guaranteed lifetime income, which transform savings into guaranteed future income, reducing the risks that retirees will outlive their savings or that their retirees' living standards will be eroded by investment losses or inflation."

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