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What is an annuity rate?

An annuity rate is the percentage by which an annuity grows each year. Annuity rates are determined by insurance companies. The annuity return rate depends on how much money is invested, how the interest is credited and the length of the contract. Insurance companies set annuity rates and may determine a guaranteed rate for a set period.

What are fixed annuity rates?

Fixed annuities provide investors with a guaranteed income stream and various customizable options. Fixed annuity rates (MYGA) provide stability with guaranteed returns over a set period. Economic conditions, insurer policies, and prevailing interest percentages significantly impact fixed annuity rates.

What is an index annuity?

An index annuity differs from a fixed annuity in how interest is earned. In a fixed annuity, the interest rate is set and doesn't change. In an index annuity, the interest rate can vary because it's linked to a market index, like the S&P 500. This means returns can be higher, but there's more risk compared to a fixed annuity.

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