Compare Annuity Categories
Not sure which annuity type fits your needs? Start here for a simple side-by-side look at the main options.
Fixed Annuities
Keep your principal protected and earn a guaranteed rate for a set time.
Ideal For
People who want steady growth and income they can plan around.
Key Features
- A guaranteed minimum interest rate.
- Income options that can last for life or for a set period.
- A way to pass remaining value to beneficiaries.
Considerations
- Growth may be slower than inflation over time.
- Early withdrawals can trigger surrender charges.
Fixed Indexed Annuities
Tie part of your growth to an index like the S&P 500 while still protecting your principal from market losses.
Ideal For
People who want more growth potential than a fixed annuity without taking full market risk.
Key Features
- Growth tied to an index, using rules set by the contract.
- Income options that can support lifetime payments.
- Penalty-free withdrawals up to the contract limit.
Considerations
- You will not get all of the market's upside.
- Each carrier uses different crediting rules, so comparison matters.
Variable Annuities
Invest in market-based options with tax-deferred growth and optional guarantees.
Ideal For
People who want more growth potential and can handle market ups and downs.
Key Features
- Investment choices similar to mutual funds.
- Optional features that can help protect future income.
- Tax-deferred growth on investment gains.
Considerations
- Market risk can reduce account value.
- Fees can be higher than other annuity types.