In the world of finance, an annuity is a contract between you and a life insurance company in which you give the company a lump sum or series of payments, and in return, the insurer promises to ...

When you need another stream of income for retirement, you might consider an annuity. You purchase the annuity from an insurance company and receive payments back at a later date. Before buying an ...

If you decide to invest in an annuity, you should understand how much stable income you can expect from it. If you have $1 million, you likely want to know how much your monthly payout will be.

Julia Kagan is a financial/consumer journalist and former senior editor, personal finance, of Investopedia. Amanda Jackson has expertise in personal finance, investing, and social services. She is a ...