In general and all other things being equal, it is better to hold-off on annuitizing an existing annuity contract if possible in the current environment.
First and foremost we are in a low interest rate environment, so current annuitization locks-in those low rates.
Second, there is the possibility of missing out on future growth of the contract value.
Yet another good annuity-related article from the Chicago Tribune.
Source: Chicago Tribune
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