Annuities

An annuity is a financial product designed to provide a steady income over time, typically used for retirement. You usually pay a lump sum or make regular contributions, and in return, the provider promises to pay you a specific amount regularly, either immediately or at a future date. Annuities can be structured in various ways, such as fixed or variable, impacting how much you receive. They're often used to ensure a stable income, protecting against the risk of outliving your savings. Understanding the terms and conditions is important before deciding if an annuity is right for you.