Annuities are neither useful nor appropriate for many people.

As emphasized throughout this buying guide, a good financial plan that focuses on retirement income needs should be the foundation of any annuity purchase decision.

American Fidelity Assurance Company family-owned organization providing insurance products and financial services to education employees, trade association members and companies throughout the United States and across the globe. Founded in 1960, it has grown to become one of the largest private, family-owned life insurance companies in the United States. American Fidelity Assurance Group specializes in 403(b) Tax Deferred Annuities, which allow customers to defer from their taxable income, the portion of their salary that is contributed to purchase 413(b) contracts.

The picture for near and current retirees has changed 180 degrees in the past couple of years.

Questions such as where to retire and what do do during retirement are replaced with whether to retire and how to make sure one does not run out of money during retirement.

Working longer, waiting to draw on Social Security, and understanding longevity risk are front and center for the vast majority of retirees.

Decumulation or drawing sustainable income from accumulated financial assets is one of the major challenges and opportunities in personal finance: