Advice from the industry

Are variable annuities the best resource for seniors? It depends who you talk to; more importantly, getting the right product match is always crucial.
"I've had clients on the VA side who've gone into the equity indexed end who've seen their account values double, but there's a great risk-reward ratio. It's a good product, but not the be-all, end-all, especially with low interest rates." Mark Cortazzo, CFP, Macro Consulting
"All consumers should do some homework, and if you are comfortable with it, a variable annuity is a really good choice, with protection for the downside. It just depends what a client thinks, long-term." Valerie Brown, president, ING retail annuity division
"If you look at how VAs have evolved, we're light years ahead. They still provide opportunities to invest, but there's guaranteed principal to the owner and a guaranteed income stream. It's all a matter of finding the sweet spot for the consumer." David Byrnes, director of sales, Sun Life Financial Distribution