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At face value, annuities offer a solid deal: guaranteed income for life. But they are not the most straightforward of products.
Annuities can be a cash cow for insurance companies and the people who sell them — making it important for you to understand them and trust your source of information.
There may be less costly ways to reach the same outcome with another investing tool. As with any big investment, discuss what is right for you with a trusted adviser who knows your complete financial picture.
Beyond sheer complexity, annuities have certain characteristics.