Annuities are the foundation for wealth accumulation, wealth transfer, and retirement protection, providing the security of a "lifetime income." Your client will pay money into them for a certain amount of time and then, once they reach a certain date they will begin to received regular payments for a set period of time.

Unlike other types of investments like stocks, bonds, or mutual funds, annuities are a guaranteed steady stream of income. Annuities are a great source of supplemental income for those fearing their Social Security benefits might not be enough for them to continue their quality of life.

Also, annuities have great tax benefits, the money in annuities grows tax deferred until your client starts to withdraw; and, once they begin withdrawing, only the gains made on the annuity are taxed.