No, not a fixed annuity, the cost overruns the value. The variable annuity, if you pick the right one, can be used as a pension replacement.
You can get out of it, but if that's what you're thinking, don't get in, in the first place. Just like an IRA, it's for retirement.
True enough there is a cost involved. But then again, you'll insure your house and car, why not your money? No one complains their house didn't burn down so they didn't get their money's worth.
BTW, not all products are the same. I looked at many before finding the one I liked.
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