What Are Fixed Annuities? 
Fixed annuities are a type of annuity that has a defined , guaranteed payment structure . The annuitant agrees to pay the insurance company a single payment , or a series of payments , and the insurance company agrees to pay you a fixed amount -LRB- income -RRB- , starting immediately -LRB- an immediate annuity -RRB- or at a later date -LRB- a deferred annuity -RRB- , for a specified time period -LRB- this could be for 10 years , 15 , years , 20 years , for life , etc. -RRB- . The monies put into an annuity grow on a tax-deferred basis , which is a huge advantage for your retirement planning . I hope the information is helpful - please feel free to contact me for help and if you have any other questions . Thanks very much . 