The annuity plans I purchased were kind of a natural progression from the original “didn’t know any better so buy insurance” plans which I guess every young man who’s a bit financially naive went through with a friend of a friend’s who works as an insurance agent.

Once I realised that my income and savings and passive returns were more than required to cover my old age and then some, I changed strategies and focused more on full health insurance coverage and bought annuity plans instead of life or worst, investment linked policies.

These plans were bought decades ago, around the same time as my bond purchases started. They had lower entry criteria - I didn’t have to have $250,000 in cash per bond - so these annuities also had their value then.

I personally wouldn’t buy them again if I had a chance to turn back the clock, but hindsight is always 20/20…

curious... does the annuity provider allow you to redeem/terminate the plan and pay you back the "value" of the annuity plans?

Only in death - they pay 101% of all premiums paid. This is a pure savings plan. I pay for 10 years (I finished paying last year), and I draw $10,000 once I turn 65 until I die. I better stay healthy, so I get back more than I paid for hahaha.