The annuity business has grown in popularity as investors, especially those nearing retirement, look for options to protect themselves from stock market volatility and give them a decent income stream in retirement. With over $200 billion in annual sales, the annuity industry is big business with lots of salesmen trying to persuade you to make a purchase.
Today I will dig deep into the Allianz Core Income 7 annuity which has been requested by several readers in recent weeks. It currently is one of the top 10 best selling annuities on the market. Sales of indexed annuities, a fixed annuity that provides a minimum guaranteed rate of interest combined with an interest rate tied to movement of an index, increased to $54.5 billion in 2015, a 13% gain year over year. This is the biggest percentage increase of any form of annuity.