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FOR IMMEDIATE RELEASE | October 8, 1998
CONTACT: Christine Underhill, (703) 707-8830 ext. 15

RETIREMENT INCOME BOOK EXPLAINS HOW VARIABLE ANNUITIES CAN PROVIDE A SECURE RETIRMENT

Washington, DC-The arsenal of tools available to consumers to prepare for retirement has just gotten bigger. Finally, consumers have access to an understandable guide that explains the role of variable annuities in providing retirement income. NAVA released "Creating Retirement Income" at its annual meeting earlier this week in Washington, DC. Published by Lightbulb Press, the guide was written by Virginia Morris, author of The Wall Street Journal Guide to Understanding Personal Finance, in collaboration with NAVA. The guide is available at bookstores nationwide for $14.95.

Americans are increasingly concerned about saving for retirement. Survey after survey shows that building a retirement nest egg is the number one financial concern of most U.S. households. According to experts, this is a real and growing problem. People are retiring earlier and living longer, which increases the need of having a retirement income that lasts for life.

"There are a number of resources available that can help people learn about saving for retirement," said Mark J. Mackey, president and CEO of NAVA. "What we believed was missing was reliable, easy-to-understand information about what people should do with their savings when they are ready to retire, and the valuable role annuities can play in providing retirement income for life."

"Creating Retirement Income" offers solutions to the challenges of accumulating as well as managing retirement savings. It also describes the different types of annuities, how to choose the right one and the income options offered by annuities.

Established in 1991, NAVA is a not-for-profit organization dedicated to increasing public knowledge and acceptance of annuity and variable insurance products. NAVA's mission is to promote the growth, acceptance and understanding of annuity and variable life products to retirement-focused Americans; to provide educational and informational resources to its members and the public; to protect consumers by encouraging adherence to the highest ethical standards by insurers, distributors and all other participants in the diverse industry; and to protect and advance the interests of its members.