All of the annuities mentioned above are actually various forms of variable annuities. And while most reputable financial advisors will usually recommend against variable annuities due to their high management and commission fees, the same is not always true for an investment in what are called Immediate Annuities.
Depending on your circumstances, an immediate annuity may be just the ticket for retirees looking for a relatively safe but guaranteed monthly income for the rest of your life (and your spouse if you choose).
Here is a link to a straight forward
overview of immediate annuities. And here’s a link to an online
calculator to estimate payments. I’ve used this firm to roll over some of my IRAs’ into immediate annuities and they do all the work setting it up for you.
This may not be right for everyone, but it’s worth looking into.