IMHO each person is different in many factors needing to be considered. If you have children and want to leave them an inheritance, then the lump sum for sure and you have total control over it. If you take the lump sum then you are responsible for handling it, but you have freedom to do so and make changes yourself later on. If you have plenty of money and children, make sure half the money is titled to both you and your wife split 50-50 and transfered upon death to your children. Annuities, pensions, and social security end at death - lump sums do not. Consider your personal life expectancy based on genetics and current health. Don't forget to consider tax implications. You can get advice free or pay for it but you still need to make your own decision. I've been ill advised by lawyers and tax specialists so that can happen and can also happen with financial advisors as well. Good luck!
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