Did You Know This?
Posted on January 8, 2013
Most historians claim that the Romans introduced the world to annuities. Didn’t think they had been around that long did you!
After doing a little research here are 6 dates that you may be interested in knowing more about.
1759: This is the year annuities were introduced to America. At that time they were only offered to church pastors in Pennsylvania.
1812: This is the first time annuities were offered to the public by the Pennsylvania Company for the Granting of Annuities.
1905: Andrew Carnegie founded the Teachers Pension Fund. This later became the Teacher’s Insurance Annuity Association (TIAA-CREF) in the year 1918.
1952: TIAA-CREF introduced the first variable annuity.
1995: Keyport (now Sun Life), introduced the first fixed index annuity.
2004: MetLife introduced the first longevity annuity.
Only over the last decade have annuities grown in popularity. Annuities are now a legitimate transfer of risk asset class with sales reaching $250 billion annually. There is an estimated $3 trillion of annuities that are already on the books as well.
Those are some amazing numbers for such a short time of being popular!
Hard to believe that annuities started back in the Roman era isn’t it! Over time they have just kept improving in popularity and now is the perfect time to purchase your annuity to secure your own financial future.
If the Romans started doing this, and America has been a part of it since 1759 I would say that shows it can be a great investment for you!
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