The good news for the annuity industry: most Americans would consider the fixed-income products to finance some aspect of their retirement.
The not-so-good news: more than half of those surveyed don't really understand how annuities work.
According to a study by The Phoenix Companies, nearly three-quarters (71 percent) of Americans would consider using annuities to establish predictable income in retirement, as a vehicle to protect inheritances, or as way to protect money for health and chronic care expenses.
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