annuity

Insurance risk compass
I’ve been pretty critical of many annuities in the past, but there is one out there that might be worth a serious look. It’s called a Qualified Longevity Annuity Contract (QLAC) — yes, that’s a mouthful. Recent technical changes to this annuity OK’d by the U.S. Treasury offer a partial solution to the not-outliving-your-money challenge.
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Americans are way short in their retirement savings, and President Obama's MyRA plan, which he unveiled last week, isn't the only new proposal that aims to help with that problem.
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