Is Life Insurance An Annuity? 
The insurance companies that issue life policies often issue annuities as well . Actuaries use data to compute rates and benefits for the life policy . Then they use almost the same data to apply to the annuity . The products are actually opposites . A life insurance policy protects against premature death . An annuity protects against living to long and outliving your resources . The life insurance policy starts with a small premium and promises a very large death benefit . The immediate annuity starts with a large premium and promises a lifetime income . 