Who's Who in an FIA

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Who's Who in a Fixed Indexed Annuity?​

A fixed indexed annuity, or FIA, is a contract with an insurance company that allows you to receive a series of periodic payments. Your returns are based on the performance of an index. However, there is no risk of losing the amount you contributed. An FIA contract typically involves three, sometimes four parties: The insurance company, the owner, the annuitant, and the beneficiary/beneficiaries.

  • The issuing insurance company backs the guarantees stated in the annuity contract.
  • The contract owner is the one who funds the annuity.
  • The annuitant and the contract owner are typically the same people. However, this isn’t always the case. The annuitant’s life expectancy determines when and how much they will receive in benefits.
  • The beneficiaries designated by the annuitant will receive a death benefit from the annuity.
Mature couple discussing who's who in a fixed indexed annuity

Selecting a Retirement Professional

We suggest meeting with a licensed professional in order to learn more about FIAs and how they work. How you manage your money can have a lasting impact on your life, and retirement strategies aren’t “one size fits all.” It’s crucial that the strategy you have in place is the best one for you. Is an FIA the right choice for you? Contact us to find out.