Checking Into Annuities

After over a decade covering the hotel business, I now find myself learning about annuities, which got me thinking: Are there similarities between hotels and annuities?

At first glance, they appear to be completely different species. One is a bricks-and-mortar building and the other is a printed insurance policy.

Yet as I get deeper into the annuity business, I realize there are some likenesses. While both appear to be rather straightforward products that everyone has a general idea and opinion about, when one digs further into each the complexity and variations becomes apparent.

When you think of a hotel, you probably imagine the typical full-service hotel with a lobby where you check in, a room with a bed and a nice restaurant where you eat breakfast, lunch and dinner.

When you think of an annuity, you think of a client investing money into a policy and growing that investment. Then, at some specified date, they begin receiving a steady income from the annuity.

Simple, right?

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