Helping to stabilize income from investments, fixed annuities are most commonly used by people who are not fully participating in the workforce, are about to retire or have already retired. Fixed annuities are insurance contracts that offer the annuitant – the person who owns the annuity – a set amount of income paid at regular intervals until a specified period has ended or an event (like the annuitant's death) has occurred. There are advantages and disadvantages to purchasing a fixed annuity, and there are many types of options that, for a fee, can be added to the basic product.
Copyright © 2023 CT Financial Services - All Rights Reserved.