National Annuity Awareness Month


WHEREAS, annuities provide a safe alternative for individuals who want a predictable way to meet immediate, ongoing, and future financial obligations and objectives; and

WHEREAS, surveys consistently indicate that many Americans are looking for a financial vehicle that provides the benefits annuities offer, specifically the ability to address the critical concern of running out of money during retirement; and

WHEREAS, outliving one’s retirement income creates a financial hardship that may require working additional years of employment, reduce the standard of living in retirement, defeat the fulfillment of legacy goals, or require dependence upon family and friends for monetary support; and

WHEREAS, research indicates that annuity owners have a higher confidence in their overall retirement readiness; and

WHEREAS, because determining what kind of an annuity to buy and when to take income is one of the most important financial decisions consumers will ever make, individuals and families can benefit greatly from the expert advice of a qualified insurance or financial services professional; and

WHEREAS, the Coalition for Annuity Awareness, a nonprofit whose membership represents hundreds of leading insurance companies and organizations, has designated June as national Annuity Awareness Month, the goal of which is to educate consumers on annuity benefits, support them in considering annuities for meeting specific financial goals, and encourage them to seek professional advice for implementing annuities effectively in their income and legacy planning;

NOW, THEREFORE, I, Terence R. McAuliffe, do hereby recognize the month of June 2015 as Annuity Awareness Month in our COMMONWEALTH OF VIRGINIA, and I call this observance to the attention of all our citizens.