An annuity is a contract in which a lump sum payment or series of payments are made to an insurance company and in return obtain regular disbursements beginning either immediately or at some point in the future. The goal of annuities is to provide a steady stream of income during retirement.

People spend the majority of their life trying to accumulate wealth for retirement but very little time planning how to use their money when they need it. While there is a plethora of options available for individual’s retirement funds, annuities are the only vehicle that can provide that consistent and stable income stream.