What Are Fixed Annuities?
A fixed annuity is a contract between you and an insurance company where you deposit a lump sum or make regular payments, and in return the insurer guarantees a fixed interest rate on your money and provides options for guaranteed income in retirement. Unlike stocks or mutual funds, fixed annuities are not subject to market fluctuations — your principal is protected and your growth is guaranteed. Fitzpatrick Benefit Advisors offers fixed annuities and fixed indexed annuities only. We do not offer variable annuities or any securities products.
Coverage Options We Offer
Earns a guaranteed fixed interest rate for a set period. Simple, predictable, and safe — ideal for conservative savers who want certainty.
Earns interest linked to a market index (like the S&P 500) with a floor of 0% — meaning you can never lose principal due to market performance, but can participate in market gains up to a cap.
Similar to a CD but with tax deferral. Locks in a guaranteed interest rate for a specific term (typically 3–10 years). Excellent for those rolling over retirement funds.
An optional benefit that can be added to many annuities to guarantee a monthly income stream for life — regardless of how long you live or what happens to your account value.
Frequently Asked Questions
A fixed annuity guarantees your interest rate and protects your principal. A variable annuity invests in market sub-accounts and can lose value. Fitzpatrick Benefit Advisors offers fixed products only — no variable annuities.
Fixed annuities are backed by the financial strength and claims-paying ability of the issuing insurance company. They are not FDIC insured, but state guaranty associations provide an additional layer of protection up to certain limits.
Most fixed annuities have a surrender period during which early withdrawals may incur a surrender charge. However, most contracts allow penalty-free withdrawals of 10% per year. Mechelle will explain all liquidity provisions before you commit.
Growth inside a fixed annuity is tax-deferred, meaning you do not pay taxes until you withdraw the money. Withdrawals are taxed as ordinary income. If purchased inside an IRA, the same IRA tax rules apply.
Fixed annuities and fixed indexed annuities are not securities products and are not subject to securities regulation by the SEC or FINRA. Guarantees are backed solely by the financial strength and claims-paying ability of the issuing insurance company. Fitzpatrick Benefit Advisors LLC does not offer variable annuities or any securities products. Mechelle Fitzpatrick, NPN 6799305, GA License 607281.
Key Benefits
- Guaranteed interest rate — no market risk
- Principal protection from market downturns
- Tax-deferred growth until withdrawal
- Flexible payout options including lifetime income
- Competitive, tax-deferred growth — often outpacing traditional savings vehicles
- Backed by the financial strength of the issuing insurer
Who Needs This?
- Individuals approaching or in retirement seeking guaranteed income
- Those who want to protect their savings from market volatility
- People looking to defer taxes on retirement savings growth
- Anyone who wants a predictable, reliable income stream
- Retirees concerned about outliving their savings
- Those rolling over a 401(k) or IRA into a safer vehicle