Is an immediate annuity a good deal? I'm afraid the market will tank and I want to be secure.?

I'm not a fan of annuities. If you decide to go that way find out what the guaranteed payout is going to be.

I think a better way would be to invest in low cost mutual funds through Vanguard. If you spread your investment over several types of funds you will lessen your risk.

But...the market may tank. If it does it will come back. Unfortunately we don't know when either of those events will occur. Depending on your capacity for risk and your time frame you may need a guaranteed investment vehicle. Anything guaranteed will give you a lower payout, so you have to weigh the options.

Horrible idea. Don't do it. Annuities are a bad word.

Compare rates free

No.

Insurance companies take your money, invest it in bonds, and charge you a fee.

If you want safety, buy a US Treasury bond and hold it to maturity.