Annuities can be suitable depending on individual financial goals and risk tolerance. They offer guaranteed income, tax-deferred growth, and the potential for lifetime income, addressing the risk of outliving savings. However, annuities come with high fees and limited liquidity during accumulation. Fixed annuities may not keep up with inflation, and some investors may find better returns in other investment vehicles. It's crucial to carefully evaluate the contract's terms and features to ensure it aligns with one's financial needs. Consulting with a financial advisor can help determine if an annuity fits into a comprehensive and diversified financial plan.