What Are Fixed Annuities?

To put it quite simply, a fixed annuity is a contract between you (the insured, or an investor) and an insurance company in which you pay either a fixed payment, or a monthly payment in return for a fixed amount of money in the future. This amount of money can take the form of a monthly payment, a yearly payment, or a lump sum payment at a predetermined time in the future. Fixed annuities are commonly used as very effective retirement planning tools and can also be used as effective long-term investment tools. Puritan Life Financial Group specializes in helping customers just like you find the fixed annuity product that is right for your situation.