Americans want to live until 91. Can retirement savings keep up? 

Americans are living longer than ever before, meaning retirement planning is more essential, and in some ways more complex than it has ever been. One question looms large for millions of savers: Will my money last as long as I do?

Pew Research says Americans on average want to live until 91 years old. A striking increase that underscores the need for financial strategies that can go the distance.

Annuities Offer a Long-Term Solution

Annuities can play a big role when planning for a long retirement. Offered by life insurers, annuities are the only financial product that provides a guaranteed stream of income in retirement regardless of market conditions.

An annuity is a long-term agreement between a consumer and a life insurer. In exchange for a premium, the insurer agrees to make a series of income payments for a set period or even for life.

Quick Facts

The numbers tell a clear story, Americans want financial security, and annuities are helping deliver it.

  • $110 billion in annuity benefits were paid by life insurers in 2024, a record-breaking year.
  • The median household income among annuity owners is $76,000.
  • 81% of retirement savers say they worry about having enough savings to last through retirement.
Real Stories, Real Impact

We asked our network in the Protecting Every Future community to share their stories. Here’s what consumer advocates and financial professionals have to say:

  • Rachel G., Financial Professional (California): Rachel shares how she helped a client understand the value of lifetime income through annuities. Watch her story →
  • Jane L. (Georgia): Said, “If it weren’t for the annuity I purchased 27 years ago, I wouldn’t have any retirement money.”
  • Lisha H. (Virginia): Lisha explains how an annuity supported her mother after moving into an assisted living facility. Watch her story →

With longer lifespans and unpredictable markets, guaranteed income isn’t just a luxury, it’s becoming a necessity. Annuities provide peace of mind, ensuring that retirees can count on a steady income no matter what happens in the economy.

Learn more about how life insurers are meeting the moment for retirees, helping deliver security and stability for millions of families.