News on a recent deferred income annuity product release from New York Life:

Two of the most daunting risks faced by the majority of retirees are:

What are the cons or downsides of a guaranteed lifetime withdrawal benefit (GLWB) from the annuitant's perspective?

This question is answered and open for discussion in the forum section and can be accessed by clicking on the following:

http://www.annuitydigest.com/forum/cons-guaranteed-lifetime-withdrawal-benefit-glwb

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.

Living benefits (also known as guaranteed living benefits) are optional guarantees that can be built into variable annuity products.  These "options" are typically added as "riders" to a variable annuity contract.  Living benefits are very powerful product features and something that should be discussed with a financial advisor whenever the conversation involves variable annuities. 

Annuities can be very effective in providing protection against market volatility.

There is a very good article on that site that discusses how owners of certain types of variable annuities have been insulated from many of the effects of the financial crisis.  That article can be found by clicking here.

Annuities are products that combine insurance and, in the case of variable annuities, asset management.  Costs are absolutely critical, so definitely ask you financial advisor to spell-out the costs for each of the items discussed below.