Annuities are designed with two phases in mind. The "accumulation phase" or the growth phase of the annuity and the "distribution phase" or the income phase..

Annuities for Growth are designed to emphasize maximum interest earned feature of the annuity. Interest rates may be guaranteed for 1 to 15 years, some annuities pay a "Premium Bonus", "Interest Rate Bonus" or interest credited is based on an underlying index such as the S&P 500, all are designed to maximum the interest credited to your annuity.

Below are listed those annuities which emphasize maximum interest earned. As you can see some annuities are used for both interest accumulation and maximum payouts.

Annuities for Income are designed to pay you a guaranteed income for the rest of your life or for a specific time period.

Over the past 10 years with the volatility in the stock market and with historically low interest rates this type of product "insures" that you will recieve the income you need.

Many financial advisers compare single premium immediate annuities with "other" products claiming that you can receive a better "rate of return" elsewhere.

The bottom line is that this type of product will give you the peace of mind that you will receive the guarantee income you need.

A variable annuity is an annuity product which gives the owner choices of where the premium(s) paid will be allocated.

The General Account provides the guaranted "fixed option(s)" which are similar to that of a multi year guaranteed or fixed annuity.

The Separate Account is the non guaranteed portion providing the "investment options" which are referred to a "Subaccounts". Subaccounts are mutual funds which are designed to be used in variable annuities.

The Subaccounts are mutual funds where you principal is "at risk" and may increase in value or decrease in value as a result of stock market performance. The premiums you have paid in may be less than your original investment with the exception of funds placed in the Seprate Account. Your orginal investment is not guaranteed.      (continued)

A fixed indexed annuity is an annuity product which gives the owner choices of where the premium(s) paid will be allocated.

The Fixed Account is the guaranteed portions providing the "fixed option(s)" which are similar to a multi year guarantee annuity or fixed annuity.