What Exactly Are Annuities? 
That 's a good question ! Annuities are an instrument by which to liquidate a person 's wealth over time . The time may be limited to the lifetime of the annuitant , or it may for a stated number of years `` certain '' . In that case even it the annuitant dies before the tiem period runs out the annuity will continue to pay the beneficiary until the money is depleted . 