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fixed annuity

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Fixed Annuity
An insurance contract in which the insurance company makes fixed dollar payments to the annuitant for the term of the contract, usually until the annuitant dies. The insurance company guarantees both earnings and principal.

Notes:
A fairly good financial instrument for those looking to receive a fixed investment income.

fixed annuity
A stream of unchanging payments for a specific period or for an individual's lifetime, depending on the terms of the annuity contract. Fixed annuities are sold by insurance companies to people who desire a fixed income. Also called guaranteed-dollar annuity. Compare variable annuity. See also hybrid annuity.
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Most of the money flowing into indexed annuities is coming from tax-free fixed annuity exchanges and certificates of deposit, said Jack Marrion, president of Advantage Compendium.
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A fixed annuity earns a fixed and stated rate of return.
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