If you would rather have a slower, but more stable growth then annuity fixed is for you. Fixed annuities also offer tax-deferral which increases the speed your money grows.
variable
No, you annuity payment should have been fixed up front.
How safe is TSA 403 (b) Fixed annuity? Is TSA 403 (b) Fixed annuity insured ?
A fixed income annuity is a type of insurance contract where the insurance company makes payments of a preassigned amount to the holder of the annuity, the annuitant.
A fixed income annuity is a type of insurance contract where the insurance company makes payments of a preassigned amount to the holder of the annuity, the annuitant.
A variable annuity typically utilizes mutual funds. In this type of annuity, the policyholder can choose from a range of investment options, including mutual funds, to determine how their premiums are invested. The returns on a variable annuity can fluctuate based on the performance of the selected investments, making it a riskier option compared to fixed annuities.
When buying an annuity, consider factors such as the type of annuity (fixed or variable), the financial strength of the insurance company offering it, fees and charges associated with the annuity, the payout options available, and how the annuity fits into your overall financial plan.
It is as safe as AIG is. No fixed annuity has ever lost any money, but bottom line, AIG backs the fixed annuity
Yes, you do earn a higher interest rate with a variable annuity than with a fixed annuity. It depends on what kind of interest rate you have at the moment.
Fees are higher in a Variable annuity than they are in say a fixed Index Annuity.
I found different sites with definitions for annuity variables. Investopedia states that an annuity variable is, "an insurance contract in which, at the end of the accumulation stage, the insurance company guarantees a minimum payment. The remaining income payments can vary depending on the performance of the managed portfolio." (http://www.investopedia.com/terms/v/variableannuity.asp#axzz1bw9FbZ8G)
A fixed annuity is an annuity that pays a fixed amount of interest, defined by the terms of the contract. It is comprised of the money that you put in and the interest the insurance company provides in exchange.