Retirement researchers are often enthusiastic about annuities, but many consumers are reasonably skeptical. Here to discuss basic information about annuities and their pros and cons is Christine Benz, Morningstar’s director of personal finance and retirement planning. This interview has been edited for length and clarity. Q: How do income annuities work, and how they are different from investing in something that pays out income like bonds? A: An annuity is a contract with an insurance company. In the ...