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ANNUITIES APPEAL TO OVER 50 MARKETPLACE

 ANNUITIES APPEAL TO OVER 50 MARKETPLACE
 LOS ANGELES, May 5 /PRNewswire/ -- America's graying affluents, the


50+ market, have become the most frequent buyers of single premium deferred annuities, according to an annuity marketing executive.
 "Now that the April 15th tax deadline has passed, these prospective annuity purchasers are painfully aware of the bite that taxes take from their earnings," said Michael R. McCoy, division vice president of The Holden Group, Los Angeles-based annuity marketing and administration organization.
 "They are hungry for a tax break, yet are wary of high risk investments. Single premium deferred annuities meet their needs for an investment program that gives them tax advantages as an incentive to put money away for the future," McCoy stated.
 "Typically, the 50+ annuity buyer is enjoying his or her peak earning years. The kids are gone, the mortgage nearly paid off and retirement is fast approaching. Their top priority is the safety of their assets. They've reached the point in life when they want to simplify financial dealings, consolidate investments and provide for retirement income," he revealed.
 "Annuities have tremendous appeal to the 50+ market because they are seeking the financial security to maintain their lifestyle after retirement. Annuities have lifetime income pay- out options that can ensure that the person will always receive a monthly check and never outlive their income," McCoy added.
 According to McCoy, the 50+ market also represents the lion's share of the account balances in most financial institutions. Many of these annuity purchasers are buying their single premium deferred annuities from their banks.
 "Banks are becoming one of the leading distributors of annuities. We're forecasting that 1993 will see banks accounting for as much as 25 per cent of all annuities sold," said the Holden Group annuity executive.
 The Holden Group has been named by the American Bankers Association as the exclusive sponsored provider of annuity products to ABA's member banks. Among the first banks to participate are Nevada's Valley Bank, U.S. Bancorp in the Pacific Northwest, Virginia's Piedmont Bank, Florida's Citizens and Peoples Bank, Pacific First Bank in Seattle and First National Bank of Mount Vernon, Mo.
 -0- 5/5/92 R
 /CONTACT: Robert M. Sanders of The Holden Group, 310-312-6332; or David R. Hoods of The Nestor Group, 310-375-0828, for The Holden Group/ CO: The Holden Group ST: California IN: FIN SU:


CH -- LA042 -- 6850 05/05/92 19:58 EDT
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Publication:PR Newswire
Date:May 5, 1992
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