Skip to main content
Thrivent logo
If you were impacted by the hurricanes and have questions about how we can support you, contact us at 800-847-4836. To help affected communities, visit https://www.thrivent.com/about-us/membership/disaster-response
Start of main content

Fixed Annuities

With a fixed interest rate, you’ll know how much guaranteed growth you can count on, no matter how the market performs.

Two ways to schedule your free consultation

A local financial advisor near you

Find a financial advisor in your community and start building a relationship to get you on the right path toward your goals.
Find a financial advisor

Virtual Advice Team

Talk to a financial advisor, by video or over the phone, when and how it's convenient for you.
Contact the Virtual Advice Team

What is a fixed annuity?

A fixed annuity is a financial product that offers a fixed interest rate on your investment and may provide you with a stream of retirement income that’s guaranteed for the rest of your life, or for a set number of years.

Depending on when you choose to start your payments, fixed annuities are classified as:

Immediate

Your retirement income payments will begin within a year after you purchase the annuity.

Deferred

Your retirement income payments will begin in the future, usually when you retire.

Explore Multi-Year Guarantee Annuities

A Multi-Year Guarantee Annuity (MYGA) lets your money grow at a fixed interest rate for a pre-determined number of years. Learn more on whether a MYGA could help provide balance to your portfolio.
Learn more
Happy older couple holds hand outdoors

Fixed annuity features

Guaranteed retirement income

A fixed annuity can guarantee that you receive ongoing income payments starting in retirement and continuing for a specific period time or the rest of your life.

Fixed rate of return

A fixed annuity's value increases over time, based on a fixed interest rate. It is not affected by fluctuations in the market. A fixed annuity will have a guaranteed minimum interest rate as well as a current rate that may be higher.

Tax-deferred growth

Fixed annuity earnings are tax-deferred until you take money out of the product.

Standard death benefit

Most fixed annuities also offer a standard death benefit that is paid to your beneficiaries if you pass away before annuity payouts have begun. If annuity payments have begun, any death benefit will depend on the payout option selected.

Fixed annuity FAQs

Fixed annuities offer a guaranteed, predictable stream of retirement income and tax-deferred growth at a fixed rate.
A fixed annuity is an insurance contract that can turn your retirement savings into a guaranteed income stream. You may fund a fixed annuity with a lump-sum contribution or a series of payments over time. Those contributions earn a guaranteed rate of return during the accumulation phase. You may choose to take withdrawals or set up a guaranteed income stream when you retire, or at a later date you specify.

More to explore

View all
Man working on laptop
Annuities

MYGA vs. other fixed annuities: Differences in timelines & payouts

Active senior female listening to music while sitting at home
Annuities

Types of fixed deferred annuities: Which is right for you?

Illustration of two figures talking.
Annuities

What is a fixed indexed annuity

An investment cannot be made directly in an unmanaged index.Investing in securities involves risks such as fluctuating principal, and they may lose value. CDs offer a fixed rate of return. The value of a CD is guaranteed up to $250,000 per depositor, per insured institution, by the Federal Deposit Insurance Corp. (FDIC), an independent agency of the United States government.By selecting “Find a Financial Advisor” you will have the opportunity to find and request contact with a Thrivent financial advisor near you. By selecting “Contact the Virtual Advice Team” you will be able to schedule a call with a financial advisor from the Virtual Advice Team.Holding an annuity inside a tax-qualified plan does not provide any additional tax benefits.Withdrawals and surrenders will decrease the value of your annuity and, subsequently, the income you receive. Any withdrawals in excess of 10% may be subject to a surrender charge. The taxable portion of each annuity distribution is subject to income taxation. If a taxpayer is younger than 59½ at the time of distribution, a 10% federal tax penalty will apply to the taxable portion of the distribution unless a penalty-tax exception applies.Guarantees based on the financial strength and claims-paying ability of Thrivent.Thrivent and its financial advisors and professionals do not provide legal, accounting or tax advice. Consult your attorney or tax professional.
2.3.6