re: Lifetime Income Annuity?

Pros: guaranteed stream of income, multiple payment/beneficiary options, can provide inflation protection and growth potential depending on product, reduced market risk

Cons: fees, additional fees for inflation protection, surrender charges, mostly illiquid, lose some growth potential to provide guarantees, some products are trash


I guess another con is the general ignorance about many of the products. Some of the investments mentioned above are built into some annuities, so I dont get the "diversify" talk. And the common "you die and the evil insurance company takes all your money" only happens if you choose that option for your account, which rarely happens.

They are great in the right situations but definitely not a must have product for everyone.