Retirement can be expensive, and pensions and social security might not be enough to cover all of the expenses that a person will have. Annuities are a good way to plan ahead because they offer retirees a life time income stream as well as death benefit options. It is a good idea to purchase an annuity that can provide enough income to cover retirement expenses. By providing death benefits, annuities can also be a source of support for loved ones. People with annuities often feel greater sense of confidence about the future compared to their peers.
See Rachel Monroe, A Sense of Security, Wealth Management, May 26, 2015.
Special thanks to Jim Hillhouse for bringing this article to my attention.
