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Let’s take a look at why Republicans love annuities. We each have our own opinion when it comes to politics, but no matter if you're a Republican or a Democrat, there are reasons to love annuities and believe it or not, some common ground.

Annuities, they are contracts issued by life insurance companies. So, when someone asks me “How do annuities work?” it really depends on the type of annuity contract you are referring to. Most annuity types are designed for lifetime income, while others solve for principal protection, CD returns, and one type is structured for market returns.

Since I am licensed in all 50 states, I get a ton of calls from across the country with the following question, “Are Fixed Indexed Annuities a good investment and do they really get stock market returns?

There are many types of fixed annuities.

A retirement annuity can be multiple types of annuities. I think most people when talking about a retirement annuity, they're talking about a lifetime income stream. An immediate annuity, a deferred income annuity, or qualified longevity annuity contracts. Something that's going to create a pension type income stream.

Over 10,000 Baby Boomers are retiring every single day and millions more already enjoying their retirement years. Over 10,000 Baby Boomers are retiring every single day and millions more already enjoying their retirement years. Because of this, older adults are too often the targets of annuity salespeople. Annuities are not for everyone.

To answer that question, I need to know some information. First, you're going to have to tell me what you're trying to achieve and then we're going to get to the specific product types.