Before You Sign Up for an Annuity, Here's What You Should Know

You may have heard the insurance industry rejoice last week when the Obama administration's Middle Class Task Force released a report that, among other things, pushed annuities as a tool to help guarantee retirees a steady stream of income.

"This is a response to the fact that folks are living longer, and a guaranteed income is critically important to their well-being. We're planning to help organize that information and promote competitive products with consumer protection," explains Jared Bernstein, executive director of the White House Task Force on the Middle Class.