Women and Annuity
Taking care of financial obligations upon retirement has been one of the major worries of women. Not so many are fortunate enough to have the capacity to avail investment vehicles to cover their need of funds when they retire, while those who were able to avail one, worry that the cover provided by the financial investment vehicle is not enough to support them when they retire. This is due to the fact that women normally earn less than what men do, and most of them were forced to quit their jobs to attend to the needs of their families. In addition to this, more women, due to financial instabilities or financial responsibilities that require immediate cash, end up selling annuity.
For most women, preparing for retirement and understanding settlements are no easy tasks. This is because of the truth that not only women’s income tends to be lower than men’s; women also tend to live longer than men do. This means they have to worry about longer retirement. Not to mention many women are hesitant to purchase investment vehicles such as annuities because it seems inflexible and quite confusing making it hard for them to trust the system.
Up to this date, retiring women are still at a huge disadvantage than men when it comes to settlement or insurance discrepancies between genders although studies and researches are constantly being conducted to help women go through this concern.
