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Middle Class, Women Favor Annuities

Women and persons with household incomes under $100,000 tend to gravitate to non-qualified annuities, according to a Gallup survey released today.

By Michelle A. Samaad | Updated on September 16, 2009

Women and persons with household incomes under $100,000 tend to gravitate to non-qualified annuities, according to a Gallup survey released today.

The survey of 1,003 annuity owners nationwide found that 80% have annual household incomes below $100,000 and only 4% have annual incomes greater than $200,000. Most non-qualified annuity owners are female (58%) with the average owner being a retired 70-year-old woman. Overall, most owners (69%) are retired, which is up from 58% in 2005. Owners’ average age also increased from 66 to 70 between 2005 and 2009.

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