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 of 20+ insurance companies competing for your premium dollar.
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 20+ A-rated MYGA carriers including MassMutual, Athene, North American, Midland National, and others, side by side, with no sales pressure.
Get a free rate comparison or call 855-583-1104 to speak with an independent annuity specialist.
Fidelity Pros and Cons
Here is a balanced look at Fidelity’s strengths and limitations for annuity buyers:
Pros
- Solid financial strength with an A-range AM Best rating
- Offers MYGA products with guaranteed rates and predictable returns
- Offers fixed index annuities with growth potential tied to market indexes and downside protection
- Available through independent agents, allowing side-by-side comparisons with other carriers
Cons
- Not the highest-rated carrier available, so buyers should weigh the rate vs. rating trade-off
- Product availability varies by state, so not all products may be offered where you live
- Surrender charges apply during the contract term, which limits liquidity
Frequently Asked Questions About Fidelity
Is Fidelity a safe company for annuities?
Fidelity holds an A-range AM Best rating (N/A, Fidelity Investments is not an insurance carrier), which indicates a strong ability to meet ongoing policyholder obligations. In addition, annuity contracts are backed by your state guaranty association, which provides a secondary layer of protection typically covering $250,000 per contract. Always verify both the current rating and your state’s coverage limits.
What types of annuities does Fidelity offer?
Fidelity offers MYGAs, fixed index annuities, variable annuities through independent agents and financial professionals. Product availability, rates, and features vary by state. Use our rate comparison tool to see what’s currently available from Fidelity and competing carriers.
How do I buy an annuity from Fidelity?
Fidelity annuities are sold through licensed insurance agents and financial advisors. My Annuity Store is an independent platform that can quote Fidelity alongside 20+ other carriers so you can compare rates, terms, and financial strength ratings in one place. Request a free quote or call 855-583-1104 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 |
