Yes, thats correct. You should consider investing in annuities as as this age, what you need most is the regular monthly income, that too consistently and safely and for this, annuities are the best option.
The best form of annuity for your can be "life time annuity" or "Fixed annuity" plans. You can have good reference from http://www.freeannuityrates.com/annuities/types-of-annuity.php You would also be able to compare different rates here.
I am sure this would help...