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Traditional fixed annuities are financial products typically sold by an insurance carrier and structured by a contract between you and the issuer. With a fixed annuity contract, you make one or several payments to an insurance company, which in turn promises to pay you a fixed return on your contributions no matter how markets are performing. Prevailing interest rates for fixed-income investments determine the initial rate and contracts range from 3-10 years.


A fixed annuity provides investors with a tax deferred interest rate guaranteed for the life of the contract. Fixed annuity rates are often higher than what you can get from a CD or savings account, offering low risk for higher returns. Unlike CDs or savings accounts though, fixed annuities are not FDIC insured. They are guaranteed by the issuing insurance company. Fixed annuities are the most basic type of annuity contract, and they offer a consistent and dependable source of investment return and income.


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Fixed Annuities (FA) are not suitable for all investors. Annuities are long-term, tax-deferred investment vehicles designed for retirement purposes.  Gains from tax-deferred investments are taxable as ordinary income upon withdrawal. Withdrawals prior to 59 ½ may result in an IRS penalty, and surrender charges may apply. Guarantees are based on the claims-paying ability of the issuing insurance company.