Who's Who in an FIA?
Fixed Indexed Annuities: Who's Who?
Fixed indexed annuities, or FIAs, are insurance policies that can provide retirement income. Payments are determined by the performance of an external index. An FIA may be used in your financial retirement strategy to help you reach your retirement goals.
The Main roles in an FIA
A fixed indexed annuity contract involves three, sometimes four, different parties. They are:
- The issuing insurance company, which backs the guarantees of the annuity
- The contract owner, who purchases the annuity
- The annuitant, who receives the payout from the annuity (typically, the contract owner and annuitant are the same person)
- And lastly, beneficiaries, the people who receive a death benefit once the annuitant passes away
We Can Help
If you want more information about fixed indexed annuities, reach out to a retirement specialist. The right assistance can make all the difference in retirement. We can provide you with information that may be a great help to you when making your financial retirement strategy. Contact us to learn more. We’re always here to help.