Annuities

What Are Annuities?

Annuities are financial products designed to provide guaranteed income streams, typically during retirement. At their core, annuities are contracts between you and an insurance company. You make a lump sum payment or series of payments, and in return, the insurer agrees to make periodic payments to you beginning immediately or at some point in the future. These payments can last for a specific period or for the rest of your life, providing a reliable income stream that can help ensure you don't outlive your savings.