Fixed annuity concepts
A fixed annuity generally credits interest according to terms in the contract. Any contractual guarantees depend on the issuing insurer’s claims-paying ability and the specific contract.
Retirement income considerations
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Financial Planning
What is an annuity?
An annuity is a contract with an insurance company. Depending on the contract, it may provide accumulation features, income options or other benefits in exchange for premiums or a purchase payment. Fixed and indexed annuities work differently, and contract terms, costs, access to funds and risks should be reviewed before making a decision.
Annuity features, guarantees, fees, surrender charges and availability vary by insurer, state and contract. Any guarantee is subject to the issuing insurer’s claims-paying ability and contract terms. This is general education, not investment, tax or legal advice.
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Understand the choices and trade-offs
Indexed annuity concepts
An indexed annuity uses a contract formula linked to an external index to determine interest crediting, subject to features such as caps and participation rates. You do not directly invest in the index.
Retirement income options
Some contracts offer ways to convert value into income payments. Amount, duration, access and conditions depend on the contract and choices made.
Fees and access limits
Review fees, surrender charges, withdrawal limits, contract duration and any conditions before accessing funds.
Financial Planning
Important considerations before choosing
Compare the complete contract and how it fits your wider retirement plan—not just a headline feature.
- Ask for a clear explanation of all fees, charges and surrender periods.
- Understand how interest crediting, caps, participation rates and withdrawals work.
- Consider liquidity needs, income timing and what happens if your plans change.
- Verify any guarantee in the contract and remember it is subject to the issuing insurer’s claims-paying ability.
Contact
Review the contract details with a guide.
Talk with our team about your retirement income objectives and the features, limitations and costs you want to compare.