Lifetime annuitization is a feature which can be added to all fixed annuities in which payments are made to the annuitant over his/her lifetime.  Lifetime annuities are called by various names (e.g. a lifetime income rider, guaranteed lifetime income, lifetime annuitization, etc.) but they all mean the same thing – you can elect an option in which the insurance carrier will pay you (according to your premiums paid and their actuarial calculations) some amount of money each year (or month, if you prefer) for the rest of your life.  Of course, fixed payments for life don’t do much to address the concern of inflation.  However, one company, Allianz, offers a product in which you can link lifetime payments a stock index, thereby providing you with the potential of growing annual income.  Another company, Lincoln National Life Insurance, offers a single premium payment annuity (SPIA) which offers lifetime income payments which are adjusted for inflation (i.e. changes to in the CPI) on an annual basis.  For retirees justifiably concerned about inflation, this product offers a great solution.