Income Annuities Take Risk Out of Retirement
Few adults would go without auto, home, life or health insurance. But the kind of insurance that protects against the risk of running out of money in old age is still greatly underutilized.
It's called a deferred income annuity or a longevity annuity.
Most people planning for retirement should strongly consider an income annuity, and a new Brookings Institution study out in June of 2019 confirms that.
Annuities 101: How They Work
The concept behind income annuities is simple. The buyer deposits a lump sum or series of payments with an insurer.
