There's no denying it – annuities are hot right now. Following record-high sales in 2022, LIMRA reported first half 2023 annuity sales jumped 28% to $182.7 billion, the highest ever recorded in the first six months of a year. Sales aren't expected to slow either. Even though interest rates are expected to level off, LIMRA forecasts 2023 annuity sales to top $300 billion for the second year in a row.

Nationwide's Advisor Authority study found that annuities are the top choice for advisors protecting clients' assets against market risk, but only about half of investors with an advisor say the same. With so many investors unsure about incorporating annuities into their financial plans, what is holding them back?

Let's be honest. Annuities can be perceived as complex or confusing if you've never worked with an advisor or financial professional to understand how they may fit into your financial plan. And frankly, there are a lot of mixed messages out there about the benefits and drawbacks of annuities, depending on who you listen to. That's why it's important for advisors to talk with their clients about how annuities can be a powerful addition to their portfolio.