Fixed and Fixed Index Annuity Reviews Database 2026

Published January 20, 2026 · Updated March 25, 2026

Fixed Index Annuity Reviews

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Types of Annuities

Insurance companies offer several types of annuities to fit different financial goals. Here's how they compare.

A MYGA (Multi-Year Guaranteed Annuity) is the simplest fixed annuity. Your rate is guaranteed for the entire term — 3, 5, or 7 years. No market exposure, no index tracking. What you see is what you earn.

Best for: Savers who want a predictable, guaranteed return and are comfortable locking funds for a set term. Often compared to CDs but frequently pays more.

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A Fixed Indexed Annuity (FIA) links your interest credits to a market index (like the S&P 500) with a floor of 0% — so you can never lose principal. Upside is capped via participation rates or caps.

Best for: Investors who want some market participation with a safety net. More complex than MYGAs but potentially higher returns in strong market years.

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A SPIA (Single Premium Immediate Annuity) converts a lump sum into a guaranteed income stream — monthly checks that start within 30 days and continue for life or a set period.

Best for: Retirees who need guaranteed income immediately and want to eliminate the risk of outliving their money. The "pension replacement" product.

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A Variable Annuity invests your premium in sub-accounts (similar to mutual funds). Returns fluctuate with the market — you can earn more but can also lose principal.

Best for: Long-term investors who want market exposure inside a tax-deferred wrapper and are comfortable with investment risk. Higher fees than fixed products.

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A RILA (Registered Index-Linked Annuity) offers partial market participation with a defined buffer against losses (e.g., 10% or 20%). Unlike FIAs, RILAs can lose money — but losses are limited.

Best for: Investors willing to accept limited downside in exchange for higher upside potential than a traditional FIA. A middle ground between fixed and variable.

Learn more about RILAs →

Is Your Annuity Protected?

Every state has a guaranty association that protects annuity holders if a carrier becomes insolvent. Coverage typically ranges from $100,000 to $500,000 depending on your state — most states cover at least $250,000.

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