Annuities - Thoughts?

[nun]

Good point... if it was COLAed then 4.5% would be sensible.

I think the fact that people that have bought (or who are thinking about buying) an annuity don't know the exact payout rate or state that it is either fixed or with a COLA says a lot about the general understanding of annuities. If a single guy with $1M in annuities is happy with the income they provide then that's an ok retirement plan for him. However, I get the feeling that he could have bought a new rather than used S Class Benz with a different plan and been just as secure.

 

[nun]

You know, I'm not exactly sure if he said 4.5 or 5.5. He's kind of hard to understand. He's so happy, I'm happy for him.

There's a trueism about bliss and level of knowledge that I won't quote

 

[nun]

90% of married men die married . 90% of all married women die alone . so for anyone married or even single the woman's life expectancy seems to be the biggest issue to tackle . .

Yes, that's true. The payout rates for female same sex couples must be really low as they get the double extended lifespan.

 

[Huston55]

Yes, that's true. The payout rates for female same sex couples must be really low as they get the double extended lifespan.

Actually, lesbian couple longevity is shorter. As expected, there's a lot of 'spin' out there on this subject but, a recent Danish study concluded shorter lifespans for homosexual couples. I'd be interested in knowing how insurance companies account for this in their offerings. A quick Immediateannuities.com quote check produces identical payouts regardless of the couples' sex but, I'd be surprised if there's no actuarial difference when actually purchasing the annuity.

 

[harley]

Actually, lesbian couple longevity is shorter. As expected, there's a lot of 'spin' out there on this subject but, a recent Danish study concluded shorter lifespans for homosexual couples. I'd be interested in knowing how insurance companies account for this in their offerings. A quick Immediateannuities.com quote check produces identical payouts regardless of the couples' sex but, I'd be surprised if there's no actuarial difference when actually purchasing the annuity.

I think it's because they're both married to women.

 

[mathjak107]

you beat me to saying it ha ha ha

 

[mathjak107]

Yes, that's true. The payout rates for female same sex couples must be really low as they get the double extended lifespan.

i saw payouts to females were slightly less on immediate annuity.com 516 a month for male vs 488 female at 65 in ny

 

[Huston55]

i saw payouts to females were slightly less on immediate annuity.com 516 a month for male vs 488 female at 65 in ny

In the interest of further hijacking the thread...

Single life annuities do have a different payout based on sex. However, when I put in "couples", there is no difference in payout, regardless of sex.

Interesting.

 

[nun]

In the interest of further hijacking the thread...

Single life annuities do have a different payout based on sex. However, when I put in "couples", there is no difference in payout, regardless of sex.

Interesting.

The Vanguard Longevity Calculator does give different joint life results depending on gender. Same sex female couples have the longest longevity according to Vanguard..........