Terry Headley was interviewed by “On the Money” radio host Steve Pomeranz about the role annuities play in protecting people nearing retirement. When asked to define “risk management,” Headley said: “Our members look at the base of the financial pyramid to cover many of life’s big risks such as dying too soon, disability or catastrophic illness. When we say ‘risk management,’ we are referring to transferring the risk to third parties, in this case it’s an insurance product. Given the volatility of the financial markets over the past decade, and many people no longer having access to a defined benefit pension plan, annuities are a way to create the equivalent of a defined benefit plan for much of the retirement savings.” Access the complete interview here. (Headley’s segment begins at the 30-minute mark of the one-hour program – scroll to the middle of the audio file to hear the interview.)
Recovered from the saved listing 2011/08/index.html. The original standalone capture is unavailable; this may be an excerpt.