An annuity is a financial product that provides a guaranteed stream of income for life, and it can be an excellent option for retirement planning. With an annuity, you can receive regular payments, which can help you manage your expenses during your retirement years. Additionally, an annuity provides protection against outliving your retirement savings, as you'll continue to receive payments for as long as you live.

On the other hand, an IUL (Indexed Universal Life) policy can be a valuable tool for retirement planning because it combines the benefits of life insurance with the potential for investment growth. With an IUL policy, a portion of your premiums are invested in a stock market index, which means that your policy's value can increase as the index grows. Additionally, the policy provides a death benefit to your beneficiaries if you pass away, which can provide financial security for your loved ones.

While both annuities and IUL policies can offer benefits for retirement planning, it's important to understand that they are different financial products with different features and benefits. An annuity can provide a guaranteed stream of income for life, while an IUL policy offers the potential for investment growth and a death benefit. It's essential to speak with a financial advisor to determine which option is best suited for your retirement goals and financial situation.

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