Who benefits from the protections of annuities against outliving assets?

The correct answer highlights that individuals planning for long-term financial security benefit from the protections offered by annuities against outliving their assets. Annuities are designed to provide a steady income stream, often for retirees, which ensures that individuals have financial resources available throughout their later years. This is critical as people are living longer and face the risk of depleting their savings.

By securing an annuity, individuals can create a reliable income that can last for the duration of their lives, thereby providing peace of mind and financial stability. This long-term perspective aligns with the purpose of annuities, which is to manage the risk of outliving one’s savings, making this option the most appropriate choice regarding who benefits from such protections.

The other choices focus on more immediate or less relevant aspects. For instance, only retirees needing immediate income suggests a narrower scope than actual beneficiaries; while insurance companies managing the annuity funds gain financial returns, they are not the ones needing protection from outliving assets. Lastly, youth planning for education costs are typically not concerned with annuities, as their focus is on short-term financial goals rather than long-term income security. Thus, the choice that emphasizes the importance of planning for financial security over a person's lifetime is the most