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Insurance Definition: FIXED ANNUITY

By Compuquotes Team on March 27th, 2008

FIXED ANNUITY:

Definition:

  • An annuity that guarantees a specific rate of return. In the case of a deferred annuity, a minimum rate of interest is guaranteed during the savings phase. During the payment phase, a fixed amount of income, paid on a regular schedule, is guaranteed.

Information provided by Insurance Information Institute

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