TIAA Cref offered me an annuity for the money I have in my TIAA 403B. If I die before 10 years of payments, the remaining payments go to my choice. After 10 years I receive the same amount until I die.
The MONTHLY ANNUITY payment was about the same as my ANNUAL estimated social security total. So my thoughts were I could not possible spend all that money. I will say they are hot on selling the lifetime annuity. Seems they bring it up if I call about something. I have zero intention of going that route, primarily because it benefits them not me. I have enough so they can't tempt me.
Funny too, that they always push it, and apologize at the same time for pushing it. They say it is not a recommendation, just a random thought. Pretty creepy.
That's because Annuities have one of, if not the highest profit margin of any financial product, so the companies what the reps to sell them, but they are such crap the reps are embarrassed to bring them up, but have to so they don't get fired.
