Definition of "Fixed annuity"

Judy Cheon real estate agent
Judy Cheon, Real Estate Agent Realty One Group Mountain Desert

Same as term Fixed Dollar Annuity: annuity that guarantees that a specific sum of money will be paid in the future, usually as monthly income, to an annuitant. For example, a $1000-a-month income benefit will be paid as long as the annuitant lives; the dollar amount will not fluctuate regardless of adverse changes in the insurance company's mortality experience, investment return, and expenses.

Have a question or comment?
We're here to help.

 
 
 
*** Your email address will remain confidential.
 
 
 

 

Popular Insurance Terms

Popular Insurance Questions