As a tool for investment and financial security, annuities have been around for a long time. Annuities first began in the ancient civilization of the Roman Empire as a way for Roman citizens to receive an annual payment for their lifetime or for several years in exchange for a large upfront payment. According to Annuity.com, early Roman annuities were often given to Roman legionaries as payment for years of faithful military service. As time passed, the modern annuity began to take shape. During the Middle Ages, the concept of lifetime annuities purchased with a single initial premium became a popular way among nobles to finance the constant warfare that was a fact of life during that time. According to the Annuities Museum, records show that one of the most popular annuities of medieval times was called tontina. This annuity was one in which participants purchased a share in an annuity pool and then, in turn, received an annuity. As time passed, each participant would receive a larger payment because the payments were divided among the surviving participants in the initial annuity pool. As participants died, they were paid increasingly larger payments. Ultimately, the sole survivor would benefit from the remaining annuity principal. One of the oldest and most enduring tontines was the State Tontine of 1693, which was established in the United Kingdom as a way to pay for its many wars with France. When the modern financial system began to develop, Dr. James Dodson of England began the formation of the Equitable Life Assurance Society of London in 1756. According to Edwin W. Kopf in his work, "The Early History of The Annuity", this was one of early coms...... middle of paper ......highly volatile economic climate, maybe it's worth heeding Babe Ruth's advice. Today's life insurance annuity provides a level of safety and protection for an investor's money that simply cannot be matched by many traditional investments. Considering this factor, you could do very well to rely on a modern life insurance annuity for your future economic and financial security. Sources Edwin W. Kopf, “The Early History of the Annuity”, Casualty Actuarial Society http://www.casact.org /pubs/proceed/proceed26/26225.pdf“The Glorious History of the Annuity”, Annuity.comhttp:/ /www.annuity.com/content/articles/glorious-history-annuities“History of Annuities”, Annuity Museumhttp:// www.immediateannuities.com/annuitymuseum/historyofannuities/“History of Annuities”, Save Wealth Financial http:// www.savewealth.com/retirement/annuities/history/