The main advantage you often hear about with deferred annuities is the tax deferral.

FORBES: Are Variable Annuities a Good Deal or a Ripoff?

Section 529 college savings plans, deferred annuities and nondeductible IRAs are all examples.

FORBES: Don't Burn the Mortgage

The downside of deferred annuities are the lockups and often exorbitant fees.

FORBES: Personal Finance

Another reason to consider deferred annuities is that they enable you to continue saving tax-deferred after you've maxed out your 401(k) and your IRA. You will still have to pay taxes as you withdraw the money.

FORBES: Personal Finance

The answer is, overwhelmingly, insurance companies peddling high-cost, tax-deferred variable annuities with crappy proprietary mutual fund options and high-risk fixed accounts.

FORBES: With Pensions At Risk, Government Workers Must Demand Better 457 and 403(b) Retirement Plans

There is simply no reason why defined contribution investors should be paying retail mutual fund fees or investing in tax deferred variable annuities offering illusory insurance protection.

FORBES: An Extreme Makeover Due For Defined Contribution Plans: 401(k), 403(b) and 457s All Under Attack (June 1, 2007)

Tax free municipal bonds, or even tax deferred, fixed annuities, may be more tax friendly than corporate bonds and taxable CDs .

FORBES: What Retirees Can Expect After The Election

In this post, we will begin with deferred and inflation-protected annuities.

FORBES: Managing Your "Tail-End" Risk - Part 2: Deferred and Inflation- Protected Annuities

Or he can invest through variable annuities whose payout is deferred for at least a decade.

FORBES: Congress makes another grab at expats' money.

Variable annuities are a form of life insurance that includes a lump-sum death benefit and tax-deferred investments, often mutual funds, which are supposed to provide income during a client's lifetime.

FORBES: Morgan, Merrill Face Lawsuits Over Annuities