Now, more than ever, Americans are responsible for accumulating their own retirement savings. Annuities are a popular choice during the planning process because they can provide retirement income that lasts a lifetime. In addition, many annuities offer flexible payout options such as paying during a pre-determined period of time, or over the lives of a couple or an individual. Annuities provide tax-deferred accumulation with the option of receiving a lump sum or fixed periodic payments beginning on a certain date.

There are several different annuity types to choose from: