Fixed Annuity
Guaranteed return for a set number of years.
Known also as:
- Multi-year guaranteed annuity (MYGA)
- Fixed rate annuity
- Fixed deferred annuity
Best for:
- Building wealth
- Guaranteed fixed growth rate
Fixed annuities offer a guaranteed rate of return for a fixed number of years, like a CD.
Indexed Annuity
Monthly income for as long as you live
Known also as:
- Single premium immediate annuity (SPIA)
- Flexible premium indexed annuity (FPIA)
- Deferred income annuity (DIA)
Best for:
- Steady retirement Income
Income annuities offer guaranteed income for life.
Deferred Annuity
Guaranteed income for as long as you live.
Known also as:
- Deferred income annuity (DIA)
- Flexible premium indexed annuity (FPIA)
- Single premium deferred annuity
Best for:
- Steady lifetime income
Earnings on premiums grow tax-deferred until money is withdrawn.