Should I Buy An Annuity -

You lose control over your lump sum. Once you buy an immediate annuity, that money is generally gone—you can't withdraw it for emergencies, and there is often nothing left for your heirs when you pass away. When It Generally Makes Sense

If market volatility keeps you up at night, an annuity acts as "personal insurance" against a market crash. Red Flags & Risks Should I buy an annuity or use drawdown? - The Times should i buy an annuity

You cannot outlive your money. An annuity provides a stable, guaranteed paycheck for life, regardless of how long you live or how the stock market performs. You lose control over your lump sum

If your fixed income (Social Security/pensions) doesn't cover your basic living expenses, an annuity can bridge that gap. guaranteed paycheck for life