A multi-year guaranteed annuity is a contract issued by an insurance company that offers a fixed interest rate for a specific period of time that varies depending on the contract. Unlike CDs which are guaranteed by the FDIC, the guarantees are only as strong as the insurance company that issues the annuity. Early withdrawals before the end of the term may be subject to surrender charges.
Want to learn more? Give us a call at 916-677-6677