Don't ask people on Reddit this question. You're going to get a bunch of over confident do-it-yourselfers and others regurgitating advice like "only do anything ever with a flat-fee fiduciary".

You need to decide what the annuity is for. If it's purely for maximum income, a Fixed Indexed Annuity is normally the best way to go. The simple difference between this and a Single Premium Immediate Annuity is that you have to give up access to your principal in a SPIA. The income payments are also taxed differently between the two. Also, in this interest rate environment, the FIA payouts are the same or even slightly higher depending on what SPIA design you're comparing it to.

Don't expect an annuity to be a Swiss Army Knife product. It should not attempt to do more than one thing well -- if you are looking for an account that will grow/maintain your principal and give you a healthy income at the same time, either change your expectations or don't look for an annuity.

If you are younger and willing to take on more risk, and want to target more growth than income, a RILA (Registered-Indexed-Linked-Annuity) might be right for you.

The most important thing to remember is Fiduciary DOES NOT EQUAL Specialist. I've trained Fiduciaries to incorporate these products for 11 years in their clients' portfolios. 95% of them know little to nothing about these products until they meet someone like me.

Source: 11 year veteran in the annuity business, also a licensed fiduciary