Fixed Annuity:
During the accumulation period of a fixed
deferred annuity, your money (less any applicable charges) earns
interest at rates set by the insurance company or in a way spelled out
in the annuity contract. The company guarantees that it will pay
not less than a minimum rate of interest. During the payout period, the
amount of each income payment to you is generally set when the payments
start and will not change.
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