More Annuity Details
Glossary:
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An annuity with payments or a payout phase that continues for as long as the annuitant is alive. In contrast to an annuity certain which have payments that only last a certain period of time, the guarantee of payouts for life is important because it provides protection from longevity risk—one of the most important protections provided by annuities.
Annuity pricing can be confusing and a detailed discussion is beyond the scope of this buying guide.
Two of the most daunting risks faced by the majority of retirees are: