Best annuities to buy in down economy

Best annuities to buy in down economy

As more and more Baby Boomers hit retirement age, the fallout from the recent economic downturn could force them to adopt more creative solutions to retirement security, including annuities, according to the New York Daily News.

Annuities are a financial instrument, typically sold by life insurance companies, that provides a guaranteed income based on the amount of money that is invested in it, the Daily News reports, adding that the investment can be made either in installments or in a lump sum.

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What do I need to know about annuities?

What do I need to know about annuities?

Many consumers buy life insurance for the financial security it may provide to their family or other loved ones when they die. While the death benefit is the primary purpose of life insurance, few consumers know that permanent life insurance can also help them during their lifetime, according to The Hartford. Here is a list of benefits that a life insurance policy can provide.

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