Annuities are best suited for those consumers who:
- Do not have a retirement plan, or have maxed out their retirement plan contributions and want additional tax-favored savings;
- Are willing to invest in the contract over the long-term;
- Will not need to withdraw money during the first seven years;
- Would not invest directly in the stock market;
- Will not be subject to estate tax (if their taxable estate is valued at $1.5 million or less – 2005);
- Are concerned with having money during retirement, rather than passing wealth to beneficiaries at death;
- Have additional funds for emergencies; and
- Will be in a low income tax bracket (15 or 28 percent) when they receive their payments.
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