Fixed Annuity

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Dictionary Says

Definition of 'Fixed 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.
Investopedia Says

Investopedia explains 'Fixed Annuity'

A fairly good financial instrument for those looking to receive a fixed investment income.

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