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Article: Targeting Elder Widows: Annuities And Service.
- Article from:
- American Banker
- Article date:
- October 28, 1998
CopyrightCOPYRIGHT 1998 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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By Fairley, Juliette
When Joan Shaffer's husband died last year, she went out and bought a variable annuity because it was an investment that she wouldn't have to look after every minute.
Shaffer, 68, who lives in Raleigh, N.C., says she chose variable annuities from her bank, Centura, because she can get her hands on the money in case there's an emergency.
"Suppose I have to go into a retirement home? That's a large expense all at once. That's what I was thinking about: protecting myself," she said.
Given that wives tend to outlive their husbands, the market for elderly widows is one that bank insurance program shouldn't ignore, ...