Guaranteed Income for Life: Annuities can provide a steady stream of income for the rest of your life, ensuring financial security regardless of how long you live. This feature helps mitigate the risk of outliving your savings, which is a significant concern for many retirees.

Tax-Deferred Growth: The investment within an annuity grows on a tax-deferred basis, meaning you won’t owe taxes on earnings until you withdraw funds. This allows your investment to potentially grow faster than in taxable accounts, making it beneficial for long-term savings .

Protection Against Market Fluctuations: Many annuities offer fixed returns or guarantees that protect against market volatility. This stability is particularly appealing to individuals who prefer a conservative approach to their investments, ensuring predictable income regardless of economic conditions.

Flexible Payout Options: Annuities come with various payout options, including immediate or deferred payments. You can choose how and when to receive your income, tailoring the annuity to fit your financial needs and retirement timeline.

Death Benefit: Most annuities include a death benefit feature, which ensures that beneficiaries receive a payout upon the annuitant's death. This aspect serves as an important tool for legacy planning, providing financial support to loved ones.