An annuity is an insurance product that pays out income, and can be used as part of a retirement strategy. It is a long-term investment that is placed in a managed investment portfolio where it accumulates tax-deferred.  Annuities are a popular choice for investors who want to receive a steady income stream in retirement.  You can opt to receive payments for the rest of your life, or for a set number of years. How much you receive depends on whether you opt for a guaranteed payout (fixed annuity) or a payout stream determined by the performance of your annuity's underlying investments (variable annuity).  Speak with one of our Advisors about the details of the different Annuities offered.