Annuities are an easily understandable concept for retirees. When you retire, you collect all your benefits, and purchase an annuity with a lumpsum payment. The annuity, depending on the amount, period and type, will provide a regular and guaranteed income stream.

While the basic concept is simple, annuities are a much maligned financial product. The simple fact of the matter is that there are so many types of annuities with varying benefits, costs and requirements. And almost every financial organization offers investors an annuity product. Which makes it very easy for unscrupulous annuity issuers to shave off a major part of the investment in costs and reduced returns.

Money-Rx will explain each type of annuity in detail, including hidden costs, annual and managing charges, withdrawal penalties and other areas of concern.

This section outlines annuities, the concept of annuitization and its benefits, each type of annuity along with comparisons, 1035 exchanges, investment options and other related articles.