Press Responses
March 28, 2002
Letters to the EditorThe Wall Street Journal
4300 Route 1 Ridge Road, Bldg #1
South Brunswick, NJ 08852 To the Editor: We are writing in response to the article "Defending the Nest Egg" by Jeff Opdyke in the March 25, 2002 issue of The Wall Street Journal. The article is critical of the sale of annuities to seniors "who may not live long enough to enjoy the benefits". While age is certainly a relevant factor, the real issue is suitability. An annuity may be an appropriate investment for an older person, depending on his or her circumstances. It is also worth noting that life expectancy is increasing. In the last three decades alone, the life expectancy of men and women age 65 has increased 22% and 13% respectively. A couple (both age 65 and in good health) has a 50% chance that one of them will live to age 92 and a 25% chance that one of them will live to age 97. Particularly since people are living longer, older investors can benefit from the tax deferral and insurance benefits of annuities. Sincerely,
Mark J. Mackey
President and CEO
National Association for Variable Annuities (NAVA)
Reston, VA
© 2006 NAVA National Association for Variable Annuities. All Rights Reserved.
Phone: 703-707-8830 · Fax: 703-707-8831