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What is an Annuity?
Take the doubt, worry, fear, and risk out of your retirement. Annuities were designed to meet long-term needs for retirement income. They provide guarantees against the loss 
of principal and credited interest, and the reassurance of a death benefit for beneficiaries.

Annuities today also provide a guaranteed lifetime stream of income which won't decrease when the market performs poorly, but which has the potential to grow when the market performs well.

You only have a certain amount of retirement money, and it has to last as long as you do!
An annuity is an insurance product that pays out income, and can be used as part of a retirement strategy.   Annuities are a popular choice for investors who want to receive a steady income stream in retirement.

Annuities are an essential part of any retirement plan. 


You've protected your investments while you were building your retirement savings, now protect your money when you are taking your retirement income.

Here's how it works:

You make an investment in the annuity with an insurance company or bank, and it then makes payments to you on a future date or series of dates. The income you receive from an annuity can be paid out monthly, quarterly, annually or even in a lump sum payment.

Many annuities also pay a bonus on the premium, oftentimes as high as 8% or more. While this bonus is not paid to you in cash, it is credited to your account. 

The size of your payments are determined by a variety of factors, including your age and the length of your payment period. 

You can opt to receive payments for the rest of your life, or for a set number of years. Keep in mind, however, that if you opt for a set number of years, there is a chance that you will outlive the annuity payments. If you are still living when your payments have stopped, you may find yourself struggling with no income coming in. So depending on your situation, it is generally better to take smaller, but guaranteed lifetime annuity payments that last for your entire life rather than take larger, but fewer, payments for only a limited number of years. REMEMBER: You only have a certain amount of retirement money, and it has to last as long as you do!
To learn more about Annuities and the different options, 
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Guarantees are backed by the financial security and claims-paying ability of the issuing insurance company
CNN Money
Ed Slot, Retirement Roadmap - 2015
Wall Street Journal - Jan 18, 2013
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