Fixed; Definite and unalterable, unchanging, stationary, permanent, securely made firm.
Annuity; An income paid yearly
Fixed Annuity; Only a fixed annuity can provide a guaranteed income that is guranteed for life.
During the accumulation period of a fixed deferred annuity, your money (less any applicable charges) earns interest at rates set by the insurance company or in a way spelled out in the annuity contract. The company guarantees that it will pay no less than a minimum rate of interest. During the payout period, the amount of each income payment to you is generally set when the payments start and will not change.
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