An annuity is an insurance product. It provides a long-term stream of income in exchange for an upfront premium. There are many types, including immediate, deferred, fixed, variable and indexed.

The big NPS decision is not just how much you withdraw, but what kind of monthly income you are locking in for years.

These insurance contracts offer steady income but have some downsides Fact checked by Betsy Petrick An annuity is a contract purchased from an insurance company with a large lump sum in return for ...

Retirement from a job or occupation is inevitable, and with it comes the end of a regular source of income. Yet, expenses don’t retire. In fact, they often rise, especially with inflation and ...

Annuities have become an increasingly popular option for people who want to diversify their retirement funds. With an annuity, you make investments and then receive money in a series of payments that ...

Julia Kagan is a financial/consumer journalist and former senior editor, personal finance, of Investopedia. Roger Wohlner is an experienced financial writer, ghostwriter, and advisor with 20 years of ...

Rita is a school teacher who will be retiring from her job in a few years. She had saved up a considerable amount of money over the years and was looking for ways to get a fixed monthly income after ...

Rita is a school teacher who will be retiring from her job in a few years. She had saved up a considerable amount of money over the years and was looking for ways to get a fixed monthly income after ...

Adam B. Frankel is a personal finance writer and financial adviser with over 30 years of experience. When he’s not managing money in the stock market, he teaches financial topics and other core ...

For many retirees, the biggest financial fear isn’t a market crash — it’s running out of money. One way to lock in predictable income for life — and avoid the nightmare of running out of money in ...