re: Lifetime Income Annuity?

Pros:
lifetime income stream
the person selling it to you gets a big commission

Cons:
low returns/growth
expensive admin fees
usually penalties if you need to cash it out, forfeiting any growth
extra fees for adding other benefits
decreased payments for adding spouse

Annuities can fill a specific need here and there, but generally the only winners are the insurance companies and the salesman.