Contracts in which an insurance company or issuing financial institution pays a fixed dollar amount of money per period.
Investment contracts issued by insurance companies that guarantee fixed payments to the contract owner or beneficiary, either for life, or for another specified period of time.
An investment contract offered by an insurance company t pays a fixed return (which may be periodically adjusted by the insurance company) and whose principal is guaranteed by the insurance company to be repaid at a specified date. Any earnings on the account remain tax-deferred until the interest is withdrawn from the contract. The contract can be converted to a guaranteed stream of fixed payments to the owner, either for life or for a specified period.