Anyone can use an annuity. If you're asking who is most likely to benefit most from an annuity that answer would be anyone who needs a stable, predictable, and reliable income stream.
Another type of person who benefits from owning an annuity is anyone who believes they will live a long time as annuities can provide income that lasts for ones lifetime even if the income stream is more than the initial money in the annuity.
Insurance Advisor, Lordship Insurance Services, California
Annuities are used for a variety of reasons; (1) stable interest rate which is equal to or higher than what CD's offer, (2) surrender charges typically decrease the longer you hold onto the annuity (3) it is secured by the assets of an Insurance company which is pretty stable (4) it is can offer both a fixed payment and regular payments.
People looking for stability, long term savings and security tend to utilize annuities to accomplish this goal.
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Another type of person who benefits from owning an annuity is anyone who believes they will live a long time as annuities can provide income that lasts for ones lifetime even if the income stream is more than the initial money in the annuity.
People looking for stability, long term savings and security tend to utilize annuities to accomplish this goal.