Who’s Who in An FIA: Fixed Index Annuities Explained
Retirees can gain a lot by understanding fixed index annuities (FIAs). Simply put, a fixed index annuity (FIA) is a contract between both you and the insurance company. Basically, this agreement goes over the specifics of the annuity insurance product you purchased.
It also confirms the terms of your annuity. These terms include the rights and responsibilities of each party. In addition, it highlights how long the money needs to stay in the annuity to increase and when the money can be paid out.