Fidelity Investments is one of the world’s largest financial services firms, with more than $14 trillion in assets under administration. But for annuity buyers, an important distinction applies: Fidelity operates primarily as an annuity marketplace and issues one proprietary variable annuity, not MYGAs or fixed index annuities. This page explains what Fidelity offers, what it doesn’t, and how to compare your options if you’re looking for guaranteed fixed rates.
Important: Fidelity Investments (Fidelity.com) and Fidelity & Guaranty Life (F&G) are completely separate, unrelated companies. Fidelity Investments is a Boston-based investment firm founded by the Johnson family. Fidelity & Guaranty Life is a Des Moines-based insurance company. They share no corporate connection, no common ownership, and no shared products.
Fidelity at a Glance
| Full Legal Name | FMR LLC (doing business as Fidelity Investments) |
|---|---|
| Type | Private investment firm, not an insurance company |
| Headquarters | Boston, Massachusetts |
| Founded | 1946 |
| Annuity Products | Fidelity Personal Retirement Annuity (variable annuity); platform for third-party carriers |
| Minimum Premium | $10,000 (Fidelity Personal Retirement Annuity) |
| Direct MYGA Products | None, Fidelity does not issue multi-year guaranteed annuities |
| AM Best Rating | N/A, Fidelity Investments is not an insurance carrier |
What Annuity Products Does Fidelity Offer?
Fidelity’s annuity lineup is narrower than many buyers expect. Here’s what’s actually available:
- Fidelity Personal Retirement Annuity (FPRA): A low-cost variable annuity issued by Fidelity Insurance Company of Boston (FICB), a Fidelity subsidiary. Expense ratios run as low as 0.10%–0.25% annually, far below the industry average for variable annuities. There are no surrender charges and no additional insurance charges beyond the fund expenses. The FPRA is available for both IRA and non-qualified (taxable) accounts. Your returns depend entirely on the underlying investment sub-accounts you choose, there is no guaranteed rate.
- Fidelity Deferred Income Annuity: Available through a partnership with MetLife (underwritten by New England Life Insurance Company), this product converts a lump sum into guaranteed future income starting at a date you choose. It’s designed for buyers who want to secure retirement income years before they’ll need it.
- Third-party annuity platform: Fidelity also makes a limited selection of variable annuities from other carriers available to investment advisory clients. This is not a full independent marketplace, it’s a curated list tied to Fidelity’s advisory relationships.
Does Fidelity Offer MYGAs?
No. Fidelity does not offer multi-year guaranteed annuities (MYGAs). If you’re looking for a 3-, 5-, or 7-year guaranteed fixed rate from an insurance company, the kind of product that competes directly with bank CDs, Fidelity is not the right platform.
For competitive MYGA rates, you need an independent annuity broker who can compare products from multiple carriers. A platform like Fidelity or Schwab is built around their own product relationships, not an open marketplace where 90+ top annuity companies compete for your premium dollar.
Fidelity Annuity Rates
Fidelity does not publish a fixed annuity rate sheet because it does not issue fixed-rate annuities. If you’re searching for Fidelity annuity rates, here is what each product actually pays:
- Fidelity Personal Retirement Annuity: No stated interest rate. It is a variable annuity, so returns depend on the investment sub-accounts you choose and can be negative in down markets.
- Fidelity Deferred Income Annuity: Quoted as a guaranteed future monthly income amount, not an interest rate. The payout depends on your age, your premium, and the income start date you select.
- Guaranteed fixed rates (MYGAs): Not available at Fidelity. Current 3-, 5-, and 7-year guaranteed rates are set by insurance carriers and change frequently.
To see today’s guaranteed rates side by side, visit our current fixed annuity rates page, which compares MYGA rates from 90+ top annuity companies, or browse annuity rates by term and state.
Who Is Fidelity Best For?
Fidelity’s annuity offerings make the most sense in specific circumstances:
- Existing Fidelity customers who want to add a variable annuity: If you already hold your IRA or brokerage account at Fidelity, the FPRA lets you add tax-deferred growth without moving your assets elsewhere. The cost structure is genuinely competitive for a VA.
- Cost-conscious VA buyers: The FPRA’s 0.10%–0.25% expense ratio is among the lowest available for any variable annuity. If you want a VA and expense minimization is the priority, Fidelity deserves a look.
- Long-term accumulation clients focused on market-linked growth: The FPRA is appropriate for buyers who want equity market exposure in a tax-deferred wrapper and are comfortable accepting variable (not guaranteed) returns.
Looking for a MYGA or Fixed Annuity?
If you came to this page because you’re researching fixed guaranteed annuity rates, Fidelity won’t have what you’re looking for. My Annuity Store compares current rates from 90+ top annuity companies including MassMutual, Athene, North American, and Midland National, side by side, with no sales pressure.
Get a free rate comparison or call 855-277-8088 to speak with an independent annuity specialist.
Frequently Asked Questions About Fidelity
Is Fidelity a safe company for annuities?
Fidelity Investments is one of the largest financial firms in the world, but it is not an insurance carrier and does not carry an AM Best rating. Its annuity guarantees come from the issuing insurers: the Fidelity Personal Retirement Annuity is issued by Fidelity Insurance Company of Boston, and its deferred income annuity is underwritten by New England Life Insurance Company, a MetLife company. State guaranty associations provide backstop protection up to state-specific limits; see NOLHGA.com for details.
What types of annuities does Fidelity offer?
Fidelity offers its own low-cost variable annuity, the Fidelity Personal Retirement Annuity, plus a deferred income annuity through a MetLife partnership. It does not issue MYGAs or fixed index annuities. To see current guaranteed rates from carriers that do, use our rate comparison tool.
How do I buy an annuity from Fidelity?
The Fidelity Personal Retirement Annuity is sold directly through Fidelity.com or a Fidelity representative. For guaranteed fixed rates, which Fidelity does not offer, My Annuity Store is an independent platform that quotes 90+ top annuity companies so you can compare rates, terms, and financial strength ratings in one place. Request a free quote or call 855-277-8088 to get started.
Contact Fidelity Investments
| Website | www.fidelity.com |
|---|---|
| Annuity Inquiries | 1-800-544-4702 |
| Mailing Address | Fidelity Investments 245 Summer Street Boston, MA 02210 |
| Hours | 24/7 online; phone Mon–Fri 8:00 am–10:00 pm ET, Sat 9:00 am–4:00 pm ET |
Related Reading
- Annuity Company Directory
- What Is a Fixed Annuity?
- Fixed Index Annuity Guide
- Best Fixed Annuity Rates
- Retirement Planning Guide
Fidelity Investments Pros and Cons
Pros
- Fidelity Personal Retirement Annuity has among the lowest VA expense ratios (0.10-0.25%)
- No surrender charges on the Fidelity Personal Retirement Annuity
- Seamless integration with existing Fidelity brokerage and IRA accounts
- One of the most trusted financial services brands in the U.S.
Cons
- Does not offer MYGAs or fixed index annuities
- Variable annuity returns are market-linked - no guaranteed rate
- Limited annuity product selection compared to dedicated carriers
