People tend to think of annuities as set-it-and-forget-it investments — and for some, that’s one of the major draws. Annuities can provide predictable payouts for retirees seeking a reliable income source, without much of the worry that can come with other, riskier investments.
But even if you’re satisfied with your current annuity (or annuities), it can still make sense to review your contract(s) to see if you can do better. With today’s higher interest rates and evolving annuities, you may be able to benefit from replacing an older annuity with one that could potentially boost your income and add to the value of your contract.
