An annuity is basically a savings account with an insurance company. There are many types of annuities: Fixed, variable, defferred, indexed, immediate...
One of the great things about annuities is that the insurance companies that hold the money are super secure. The other great thing about annuities is that some will allow you to earn a competitive growth rate without exposure to losses.
Due to the complexity of your needs and products available, a face-to-face conversation is the best way to find out if an annuity is right for you.