What Is The Difference Between Annuities And Life Insurance? 
Life insurance provides an immediate estate , the death benefit . An annuity is a vehicle to provide a safe , tax favorable way to save money for retirement . They are entirely different . If you put $ 1000 into an annuity and you die you get $ 1000 plus interest . If you put $ 1000 into a life insurance you would get the face value of whatever that $ 1000 would buy , depending on your age and health possibly over $ 100,000 . 