Guarantee Your Income For Life

The impending retirement of 77 million "Baby Boomers" during the next ten years has made retirement security a hot topic for newspapers, radio and TV talk shows and politicians.

1.	Americans are living well into their 90s and risk outliving their retirement savings or having a decreased standard of living. Living longer has seemed like a good thing, but it does create a financial dilemma. Individuals retiring at age 65 may have to support themselves for two or three decades after retirement. Consequently, there is a great need for retirement vehicles that will provide a secure lifetime payout.
2.	Traditional defined benefit pension plans have given way to defined contribution plans which shift the burden for retirement funding to individuals. As a result, fewer "Baby Boomer" Americans will receive the guaranteed monthly pension checks that provided a secure retirement for their parents.
3.	A smaller workforce supporting a growing group of retirees has fueled concern that Social Security will provide less retirement income.

All three of these factors and the Bush Administration's emphasis on Social Security reform have led Congress to focus on these issues. This focus has resulted in a bipartisan response by Congress entitled "The Retirement Security for Life Act." This Act would waive federal taxes on 50 percent of the income generated by non-qualified annuities up to $20,000 per year and provide a guaranteed stream of income for life. According to Americans for Secure Retirement, this would provide an annual tax savings of up to $5,000 for retirees in the 25 percent tax bracket.

"Annuities are the only retirement vehicle that retirees cannot outlive," stated Shannon Hunt, spokesperson for Americans for Secure Retirement. GILICO agrees that many "Baby Boomers" should "Guarantee Their Income for Life" with Guaranty Income Life! We offer a variety of flexible premium, single premium, and immediate annuities. Annuities are safe investments that can provide your client with the tools they need to better manage their retirement savings.

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