These products may offer better returns than traditional fixed-income investments. But there are trade-offs

Retirees and near-retirees can no longer rely on certificates of deposit and U.S. Treasuries to provide reliable, risk-free income. Interest rates are so low that these investments no longer keep up with inflation, which means investors effectively lose money over time.

But the financial services industry—specifically, the insurance industry—has an antidote: annuities that provide higher returns than you’ll earn from CDs or government bonds, with limits on how much you can lose in a market downturn.

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