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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 the vast majority of 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 quality 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, 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; and
WHEREAS, individuals and families can benefit greatly from the expert advice of a qualified insurance or financial services professional when deciding to purchase an annuity; and
WHEREAS, the goal of Annuity Awareness Month 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, Ralph S. Northam, do hereby recognize June 2021 as ANNUITY AWARENESS MONTH in our COMMONWEALTH OF VIRGINIA, and I call this observance to the attention of all our citizens.