Who Guarantees Fixed Annuities? 
An annuity is backed by the assets of a life insurance company . The life insurance company is supervised by the insurance commissioner in the state where they are domiciled . In most cases there are provisions to make sure that all promises are kept to policyholders that involve other insurance companies as well . Then the insurance commissioner in your state supervises the same annuity to make sure you receive what has been promised . 