You have to send your money to someone to invest.
A bank making bad investments with your money.
A fund manager making bad investments with your money.
A government agent making bad investments with your money.
An insurance company making bad investments with your money.
Someone’s going to get your money.
Why does it have to be invested? Why can’t it just sit and draw interest?
Is this an open-ended annuity? If you die before the payout, do your heirs get the remainder of your investment? What happens if the insurance company goes belly up? Since poor people can't invest much, is their some kind of minimum retirement pay?
I need to know much more about this before I can say whether or not it's a good thing.