Buying an annuity makes you live longer, not just pay you longer

New research finds that retirees who buy an annuity live longer than those who do not. This happens because annuities reduce financial stress and encourage people to invest more in their health.

For years, annuities were sold as a way to guarantee income in retirement. This paper suggests they also act as a health intervention. It means financial planners and insurers might start talking about annuities as a way to extend life, not just manage money.