A fixed annuity is a type of annuity contract that allows for the accumulation of capital on a tax-deferred basis. In exchange for a lump sum of capital, a life insurance company credits the annuity account with a guaranteed fixed rate of interest while guaranteeing the principal investment.
Multi-Year Guarantee Annuity (MYGA)
A tax deferred CD alternative! Earn a fixed rate of interest over the entire term period while guaranteeing the principal investment.
This specific type of fixed annuity guarantees a rate for the first year and a minimum rate of return for the subsequent years of the term. During the term, rates can increase or decrease as market interest rates shift.