What Is a Fixed Annuity?
Wendy Swanson explains that a fixed annuity, also called a multi-year guarantee annuity, provides a contractual guarantee of a set interest rate for the full duration of the contract.
Video Transcript
You fixed annuity otherwise known as a multi-year guarantee annuity, and the definition is really in the wording itself multi-year, meaning we're going to have two or more years guaranteed being whatever duration or length of time you purchase that annuity for, they're going to give you a contractual guarantee of the interest rate that you're going to receive during that entire duration. It is a contractual guarantee.
