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What Is the Primary Reason for Buying an Annuity?
Annuities

What Is the Primary Reason for Buying an Annuity?

The primary reason people buy an annuity is to guarantee income they cannot outlive. Here is why longevity risk drives the decision and when an annuity beats the alternatives.

By MyBankFinder Editorial TeamUpdated June 19, 2026

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Bank Reviews

Independent 2026 reviews of the largest banks

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Ally Bank logo
Ally Bank
★ 4.8 / 5
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American Express logo
American Express
★ 4.5 / 5
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Axos Bank logo
Axos Bank
★ 4.4 / 5
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Bank of America logo
Bank of America
★ 4.1 / 5
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BMO logo
BMO
★ 4.0 / 5
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Capital One logo
Capital One
★ 4.7 / 5
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Charles Schwab logo
Charles Schwab
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Chase Bank logo
Chase Bank
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