Fixed Annuity Definition, Fixed Indexed Annuities, Lifetime Income Annuity
Fixed Annuity
During the accumulation period of a fixed
annuity, your money earns interest at
rates set by the insurance company or in a way spelled out in the fixed
annuity contract. The company guarantees that
it will pay no less than a minimum rate of interest. Fixed Annuity Quote
The current fixed rate is the rate the company decides to
credit to your contract at a particular time. The company will
guarantee it will not change for some time period.
- The initial fixed annuity rate is an interest rate the
insurance company may credit for a set period of time after you first
buy your fixed annuity. The initial rate in some contracts may be higher
than it will be later. This is often called a bonus rate.
- The renewal rate is the fixed rate credited by
the annuity company after the end of the set time period.
Three year, four, five, seven and ten years of fixed annuity rates are common choices.
The contract tells
how the company will set the fixed renewal rate, which may be tied to an
external reference or index.
Fixed Annuity Rates Or call 1-800-286-1812 for current rates
