There is much debate about whether or not individuals preparing for retirement should purchase annuities as a piece of their retirement puzzle. Before determining the usefulness of an annuity for you, make sure you are clear on what an annuity is and what its important components are. What is an annuity? An annuity is an insurance product, most often sold by those who also sell life insurance. Both annuity contracts and life insurance policies are designed to supply an individual or individuals with a sum of cash based on a person’s life [...]