Annuities are investments issued by insurance companies that can be used to help build a guaranteed income stream or a retirement nest egg. It’s like being able to create your own pension fund or IRA. Annuities come in many varieties, helping investors reach diverse retirement goals.

Aside from the fact that 1-in-4 Americans have no retirement savings, those who do are on track to outlive their income! Furthermore, many are fully aware of their lack of retirement and general savings, but few are doing anything about it.

As is the case with most things in life, people have different needs and circumstances, and thus different annuity products exist to meet the diverse needs of the market. Hence, your own financial goals and personal objectives will determine the best type of annuity for you.