In planning for financial security in retirement, an annuity cansatisfy two basic objectives:

1. To accumulate retirement assets on a tax-deferred basis: If you’re alreadycontributing the maximum to IRAs and any employer-sponsored retirement plans andneed to save more for retirement, a deferred annuity may be the answer to yourretirement savings need.

2. To convert retirement assets into an income that you cannot outlive: On theother hand, if you’re near or at retirement, an immediate income annuity can be used toconvert existing retirement assets into a lifetime income.

An annuity is a long-term savings plan that can be used to accumulate assets on a tax-deferred basis for retirement and/or to convert retirement assets into a …