Retirement income protection is a way to protect your retirement savings from market losses with an annuity. Annuities are a great alternative to equity-based investments such as 401Ks, stocks, and mutual funds. They allow you to still participate in the stock market, while protecting your principle. Annuities are tax deferred, meaning the money will accumulate without you having to pay tax on the gain until the money is withdrawn in the future. Tax deferral can be a huge benefit. Annuities also avoid the costs & delays of probate, giving your loved ones access to the funds quickly when you pass away, if you haven't used all of the cash value during retirement.