Have a Negative Perception of Annuities? Consider RILAs and FIAs

These annuities are tied to the performance of a market index and address concerns about high fees and complex structures.

A man wears a doubtful expression as he looks at his dinner companion.
(Image credit: Getty Images)

In the realm of retirement planning, annuities have often been met with skepticism, with some financial experts cautioning against their potential drawbacks. However, a new wave of financial products is challenging this stigma and reshaping the narrative around annuities. Registered indexed linked annuities (RILAs) and fee-free fixed indexed annuities (FIAs) are emerging as innovative solutions that address concerns about fees and align more closely with savers' goals. In this article, we explore the unique features of these annuity products and how they are revolutionizing retirement strategies.

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Gregory L. Olsen, CFP®, AIF™, CLTC
Partner, Lenox Advisors

Greg Olsen is one of the first 5 Partners at Lenox Advisors, bringing over 30 years of financial services experience to each relationship. The skill and knowledge gained over these years allowed him to offer financial, investment, estate planning and comprehensive corporate benefit planning to his clients. Greg graduated from Binghamton University and became an associate at Cowan Financial Group in 1991. He earned his Certified Financial Planner (CFP) designation in 1998, Certified Long Term Care specialist certification (CLTC) in 2005 and Accredited Investment Fiduciary designation (AIF) in 2011.