Contracts in which an insurance company or issuing financial institution pays a fixed dollar amount of money per period.
Investment contracts issued by insurance companies that guarantee fixed payments to the contract owner or beneficiary, either for life, or for another specified period of time.
An investment contract offered by an insurance company t pays a fixed return (which may be periodically adjusted by the insurance company) and whose principal is guaranteed by the insurance company to be repaid at a specified date. Any earnings on the account remain tax-deferred until the interest is withdrawn from the contract. The contract can be converted to a guaranteed stream of fixed payments to the owner, either for life or for a specified period.
An annuity that provides a locked-in, guaranteed rate of return on your investment and a fixed, stable income in its payout phase.
A Fixed Annuity is an insurance contract between an insurance company and the contract owner. Payments into the contract earn a fixed rate of interest for a specified period of time. Earnings in an annuity grow tax-deferred. Upon annuitization or withdrawal, earnings are taxable to the owner. Withdrawals prior to age 59 1/2 are subject to income tax penalties. Early withdrawals may also be subject to surrender charges imposed by the insurance company. See also Variable Annuities.