Annuities are sold, not bought, the old saying goes. If so, someone is doing a pretty good sales job on fixed annuities.
There are two main types. Fixed-rate deferred annuities provide a CD-like guaranteed return for maturities of three to 10 years. Indexed annuities provide protection of principal and participation in some upside, usually tied to the performance of a stock market index.
Mark Miller does not own shares in any of the securities mentioned above. Find out about Morningstar's editorial policies.