Fixed Annuity Financial Glossary

What is it? An insurance contract that offers tax-deferred earnings growth and guarantees fixed payments, either for life or for a specified period, to an annuitant. A fixed annuity usually accrues interest at a fixed or company-declared rate over a specific period. Fixed Rate - An interest rate which is fixed for the term of the loan. Payments as well are fixed at one amount.

Finance Term Definition Added By: Robert

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