The Annuity Tables are entered with the age of the measuring life as of his or her birthday nearest the annuity starting date ( Q 536).

While annuities offer big benefits, like guaranteed income, the downsides could also derail your retirement plans.

What exactly is an annuity and how do they work? Simply put, an annuity is a financial product that provides a steady income stream, often for retirement.

Structuring the payments so that they occur over time, as an annuity stream, rather than as a lump sum payment, can help the account beneficiaries avoid a large up front tax liability.