Annuities, explained by the decision you are making

An annuity is a contract with an insurance company. Different contracts solve different problems and carry different limits, costs, and risks.

Fixed annuities

The insurer sets an interest rate, subject to the contract's minimum guarantee and renewal terms.

A multi-year guaranteed annuity credits a stated rate for a specified period.

Learn when withdrawals may trigger a contract charge.

Reviewed September 9, 2026