BRYN MAWR, Pa., June 29, 2006 (PRIMEZONE) -- As millions of baby boomers are reaching retirement this year, annuities have become one of the most popular investment alternatives. However, many of them quickly find out that the product's lack of liquidity limits their options to deal with changes in their personal or financial circumstances.
That was one of the topics discussed at this year's Annuity Summit sponsored by the National Association for Fixed Annuities (NAFA), whose members consist of insurance carriers, marketing organizations, producers, brokers, consultants and consumers who promote, distribute or purchase fixed annuities.
"Panelists and audience members alike embraced the notion that consumers are well served by the options available in the secondary market," said Michael Vaughan, Managing Director of the J.G. Wentworth Annuity Purchase Program, who was a member of a panel of experts discussing the emerging secondary market. "The poor publicity that annuities often receive in the media for their lack of liquidity was cited as an important concern and one the secondary market can alleviate."
About J.G. Wentworth
For more than 14 years, J.G. Wentworth has been purchasing annuities as well as other deferred payment streams. During this time, the company has purchased over $2 billion of future payment obligations. The company's annuity-backed notes are rated AAA by Standard & Poor's and Aaa by Moody's and sold to institutional investors. J.G. Wentworth is based in Bryn Mawr, PA. For more information about J.G. Wentworth, go to www.jgwfunding.com.