In the world of finance, an annuity is a contract between you and a life insurance company in which you give the company a lump sum or series of payments, and in return, the insurer promises to ...

An annuity is a financial product that provides a stream of income over a set period. Annuities are often used in retirement planning as a way to generate income from a lump sum investment.

If you decide to invest in an annuity, you should understand how much stable income you can expect from it. If you have $1 million, you likely want to know how much your monthly payout will be.

Choosing the right type of annuity payout depends on when you want payments to start, how long you want them to last and if you want a survivor’s benefit. Single-life annuities provide higher income ...