RELEASE SOME PENSION
Annuities are part insurance product and part investment. In exchange for buying an annuity from an insurance company, the purchaser gets a guaranteed income stream or lump-sum payout later on. Annuities sometimes get a bad rap, because insurance companies or brokers may charge commissions; some have high ongoing fees; and there may be penalties for withdrawing money early. But annuities can be a valuable part of a retirement plan for certain people, especially those who don't want to worry about where and how to invest. Here are 10 reasons buying an annuity may make sense.