Annuity Type

Fixed Annuities

A fixed annuity offers a guaranteed interest rate for a set number of years, full principal protection, and tax-deferred growth, the simplest way to lock in predictable returns on your retirement savings.

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How a fixed annuity works

You deposit a lump sum with an insurance company. In exchange, the insurer guarantees a fixed interest rate for a specific period (often 3–10 years). Your principal is protected, your growth is tax-deferred until you withdraw, and you decide whether to take income, renew, or move the funds when the term ends.

Why retirees choose fixed annuities

100% principal protection, the insurance company guarantees your original deposit
A known interest rate for the entire term, no market surprises
Tax-deferred growth: no 1099 until you take money out
Optional income riders can turn the balance into lifetime income
Often pay meaningfully higher rates than bank CDs of the same length

What to compare

Rates vary by carrier, term length, and state. When comparing fixed annuities, look at the guaranteed rate, the length of the surrender period, the free-withdrawal allowance each year, and the financial strength rating of the issuing insurance company. A licensed advisor can pull current quotes from multiple carriers so you can see the real options side by side.

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