Understanding annuities: Should you buy one?
Some assessment required.© Eric Hood/stock.adobe.com, © Eric Hood/stock.adobe.com, © diy13/stock.adobe.com; Photo illustration Encyclopædia Britannica, IncAn annuity is an insurance contract that guarantees regular payouts based on how much you’ve paid or accumulated over time. Annuities provide stable income, making them especially attractive in retirement, but they aren’t suitable for everyone. Fees and complex terms can reduce an annuity’s value,...