Annuities come in many varieties: immediate, deferred, fixed, variable, indexed. All share the core idea of trading a lump sum today for future income — often for life.
Simple immediate annuities are among the few ways to insure against outliving your money. Complex annuity products often carry high fees and surrender charges; read the prospectus carefully and compare to simpler alternatives.
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Open Financial OS →Frequently asked questions
Are annuities a good investment?
Simple immediate annuities can be excellent longevity insurance. Complex variable and indexed annuities often carry high fees that erode the value; look hard before committing.