An annuity in its most basic form is a guaranteed income stream from the insurance company. Did you know that the social security check that we all hope is around by the time we retire is an annuity? Remember the glory days of when everyone retired with a secure pension? Those are annuities too. Then why do advisors and investors have such a serious love or hate relationship with annuities? The reason is a lot of these products have been misrepresented by commission hungry investment reps.