Annuities are designed to protect and grow your money.

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Some advantages of an annuity:

• Protection for loved ones that can create wealth for their heirs

• Death benefit paid directly to your beneficiaries without cost or delays at probate.

• Tax-deferred growth principal and interest guaranteed. Since its tax-deferred you don't pay taxes on the interest or earnings in your contract until you start receiving payment or start taking withdrawals. 

• Guaranteed income- income stream that can last for the rest of your life. 

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A Traditional fixed annuity is protection of an interest rate that's fixed and guaranteed not to go below a minimum amount.

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Fixed index - protection of fixed rates can earn a higher rate based on retirement stock or bond market value. Will never have a negative interest rate. Fixed is a conservative approach to grow some of your assets while avoiding the effects of market volatility. It earns interest on the insurer's set rate that can change over the course of retirement. 

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Variable- does not offer principal protection but has the opportunity for greater growth. It depends on the market behavior, you have a chance of greater gains but can be exposed to a risk of losing value.