An annuity is a retirement financial product and tool. It is essentially a contract between you and an insurance company that requires the insurer to make payments to you, either immediately or in the future. You can buy an annuity by making either a single payment or a series of payments. Similarly, your payout may come either as one lump-sum payment or as a series of payments over time.
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Why do people buy annuities?
People typically buy annuities to help manage their income in retirement. Annuities provide three...
What kinds of annuities are there?
There are three basic types of annuities, fixed, variable and indexed. Here is how they work:...
What are the benefits and risks of variable annuities?
Some people look to annuities to “insure” their retirement and to receive periodic payments once...
How to buy and sell annuities?
Insurance companies sell annuities, as do some banks, brokerage firms, and mutual fund...
Understanding annuity fees
You will pay several charges when you invest in a variable annuity. Be sure you understand all...
