Annuities are best known for tremendous safety. However, they can also be used to protect or increase your savings. Or even to provide a protected stream of income that cannot be outlived. In addition, some provide death benefit riders to help support your survivors. With people living longer, many are concerned about “outliving” their savings. Annuities could be the answer to that problem.
There are different types of annuities, so it’s important to make sure you get solid guidance about what may be best for your specific retirement strategy. Fixed annuities deliver a guaranteed payment over time, and can be “linked” to equity markets, which can provide potential for enhanced gains.