An annuity is a financial product that can provide you with a secure retirement income and other key benefits. Annuities offer security and guarantees, as they are not subject to market risk, making them a great option for those looking for stability in their retirement planning. Additionally, annuities provide the power of indexing, allowing you to benefit from market gains without the risk of losses. Furthermore, annuities offer guaranteed lifetime income and tax deferral which helps you maximize your retirement savings. Finally, an annuity can help you avoid probate by transferring your assets directly to your beneficiaries upon death. The key benefits are based on a fixed indexed annuity.  There are several types of annuities but this is one of the most common types of annuities.   Security & Guarantees No Market Risk Power of Indexing Guaranteed Lifetime Income Tax Deferred Avoid Probate