Annuities are uniquely designed to deliver a guaranteed income. But they are one of the most misunderstood investment products and are often the target of unfair criticism.
Let's clear up some of the confusion and start with a basic explanation of how annuities work:
Many annuities offer a broad range of accumulation and payout options, serving people of different ages, incomes and financial situations.
And annuities offer flexibility not found in many other investment products — in some cases, you have the freedom to reallocate your assets if there is a change in your financial situation or in market conditions.