There Are Good Reasons to Avoid Annuities, but You Might Want to Buy One Anyway.
One benefit of many annuities is greater peace of mind regarding your future financial security.
Overview
Annuities can deliver regular, dependable income for part of our retirement -- or for the rest of our lives. They can even provide income for all our spouses' lives. Still, there are some pros and cons to consider before buying one.
First, understand that an annuity is a contract between you and an insurance company or bank, which promises to deliver regular income to you (or, possibly, a future lump sum amount) in exchange for your paying them a significant chunk of change.
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Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.