This study explores the properties of a combined income and disability annuity in the context of the current long term care and retirement environment, particularly the trend toward defined contribution pensions and reduced annuity offerings through pension plans. Current tax policy obstacles to such a combined product and potential remedies for them are discussed. (In Innovations in Financing Retirement 2002; edited by Olivia Mitchell, Zvi Bodie, Brett Hammond, Stephen Zeldes; University of Pennsylvania Press).