Washington, D.C., (April 13, 2015) — ACLI proudly supports National Retirement Planning Week, an annual event sponsored by the National Retirement Planning Coalition (NRPC) that focuses on retirement preparedness.

ACLI and other coalition members encourage Americans to plan ahead and prepare for a long retirement. Lifespans continue to grow and many retirees could live for 30 years or more after they stop working full-time. Seniors could need a steady source of income for decades.

We all understand the importance of saving for retirement. But just as important is converting retirement savings into guaranteed lifetime income. There is only one way to achieve that: an annuity. Life insurers provide lifetime income protection through annuities, the only financial product that can guarantee a lifetime income stream. Immediate annuities can convert a lump sum of money into a series of payments for life, while deferred annuities allow savings to accumulate over time until income is needed later in life. In either case, annuities can provide peace of mind and financial security for their owners.

Millions of Americans count on life insurance companies for their retirement products including annuities, IRAs, 401(k) plans and life insurance policies. To help more American families prepare for long retirements, the life insurance industry is committed to working with policymakers to advance solutions that expand access to workplace savings plans, increase saving rates and provide greater availability and awareness of guaranteed lifetime income products.

For more information on the distinctive role of life insurers in retirement planning, go to www.usretirementfacts.com. For more information about National Retirement Planning Week, go to retireonyourterms.org.