What is the Definition of Fixed Annuity?
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.
Source: Insurance Handbook A guide to insurance: what it does and how it works | https://www.iii.org/
Label: Insurance
Theme: Dictionary of Insurance Terms
Other Questions: What is the definition of Annuity?
What is the Definition of Fixed Annuity?
You can find random definition and meaning of insurance terms below:
Meaning of Premiums In Force in Insurance Terms
The sum of the face amounts, plus dividend additions, of life insurance policies outstanding at a given time.
Meaning of Premiums Written in Insurance Terms
The total premiums on all policies written by an insurer during a specified period of time, regardless of what portions have been earned. Net premiums written are premiums written after reinsurance transactions.
Meaning of Primary Beneficiary in Insurance Terms
The party designated to receive the proceeds of a life insurance policy following the death of the insured. Also known as first beneficiary. (See Contingent beneficiary)
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