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Fixed annuity

• An annuity under which the insurer guarantees to pay at least a specified monthly benefit amount for each dollar applied to purchase the annuity. Also called fixed benefit 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. See also: Variable Annuity; Fixed Dollar Annuity; Guaranteed Dollar Annuity.

 
 

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 Embedded terms in definition
 Annuitant
Annuity
Contract
Earnings
Principal
Purchase
Variable annuity
Variable
 
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