What Do Annuities Invest In? 
An annuity is a contract with an insurance company . The company invests the funds it receives in a variety of ways . The annuitant , you , can choose how that money is to be invested or you can rely upon the company to invest the funds . If you chose to have the company invest the funds , the company will provide you with guarantees in the contract . If you select the investments , the results are not guaranteed . 