Annuity Marketplace (Types of Annuities)

Looking for a specific annuity? The Annuity Marketplace in our software gives you access to a wide range of current products across top carriers- sorted, searchable, and ready to compare.

The menu might sometimes look like this too, especially if the page is open halfway or you're using a mobile device. If your screen is smaller or the window isn’t fully expanded, the platform will collapse the navigation into the hamburger menu (three lines in the top left) Click that menu to open the

side navigation ☰ icon , Here you can find Current Case, Current Products, and the tools available in your plan.

Fixed Annuity

What it is: A guaranteed-interest annuity with a rate set annually by the insurance company.

Best for: Steady, predictable growth without any market risk.

📎 Licensing: Insurance license only

MYGAs – Multi-Year Guaranteed Annuity

What it is: A fixed-rate annuity with a guaranteed interest rate locked in for 3, 5, or 7 years.

Best for: Conservative savers who want CD-style safe, tax-deferred growth.

📎 Licensing: Insurance license only

FIAs – Fixed Indexed Annuity

What it is: Growth tied to a market index (like the S&P 500) with no downside risk and a guaranteed minimum interest rate.

Best for: Clients who want market potential with protection.

📎 Licensing: Insurance license only

🔒 INCOME ANNUITIES –

SPIA – Single Premium Immediate Annuity

What it is: Turns a lump sum into guaranteed income starting immediately, typically within 30 days.

Best for: Retirees who need reliable monthly income now.

📎 Licensing: Insurance license only

DIA – Deferred Income Annuity

What it is: Offers guaranteed income in the future (2–40 years out), protecting against longevity risk.

Best for: Clients planning for income later in retirement.

📎 Licensing: Insurance license only

👉 Use SPIA Calculator

QLAC – Qualified Longevity Annuity Contract

What it is: A type of DIA purchased with qualified retirement funds (IRA/401(k)) that defers RMDs and income until up to age 85.

Best for: Tax-deferred income longevity planning inside IRAs.

📎 Licensing: Insurance license only

🔁 ENHANCEMENT – OPTIONAL ADD-ON - GUARANTEED LIFETIME INCOME

Income Rider

What it is: An optional feature added to FIAs or VAs to provide guaranteed lifetime income starting later.

Best for: Clients who want maximum income flexibility without giving up control.

📎 Licensing: Attached to FIA (insurance license) or VA (requires securities license)

📈 MODERATE RISK – MARKET-LINKED WITH PROTECTION

RILA – Registered Index-Linked Annuity

What it is: Offers market-linked growth with downside buffers or caps that you select. Higher growth potential than FIA, with limited loss risk.

Best for: Clients seeking growth + partial downside protection.

📎 Licensing: Requires a securities license (FINRA Series 6, 7, or equivalent)

📊 HIGHER RISK – FULL MARKET EXPOSURE

VA – Variable Annuity (Not available)

What it is: Invests in market-based subaccounts like mutual funds. Offers optional income, death, and accumulation riders.

Best for: Clients who want maximum growth potential and are comfortable with market risk.

📎 Licensing: Requires a securities license (FINRA Series 6, 7, or equivalent)

🔰 Step 1: Understand the Basics

Start with these key questions:

• What is an annuity?

  A contract with an insurance company where a client puts in money (lump sum or payments) and receives guaranteed income, now or later.

• Why do people buy annuities?

  To protect retirement savings, get tax-deferred growth, or create guaranteed income for life.

• Types of annuities to know:

  
  

📘 Step 2: Learn the Lingo

Master a few terms you’ll keep seeing:

• Accumulation phase: When the annuity is growing.
• Annuitization: When the income starts being paid.
• Riders: Add-ons (like lifetime income guarantees).
• Surrender period: Time frame when you’ll pay penalties if you take out money early.

📊 Step 3: Try our Tools

Use the software to help you:

• Compare products across carriers
• Run illustrations or income scenarios
• Match product types to your client's risk profile and goals

🎓 Step 4: Take a Short Course or Watch our Complimentary sales course

Our platform offers - Complimentary Sales Course:

• 10–30 minute modules on types of annuities
• Case design walkthroughs
• Real-life examples

🤝 Step 5: Practice Explaining It to a Client

Use a 3-step framework:

“This annuity is designed to [protect/grow income], it works by [earning interest/providing guarantees], and it’s best for people who [want security/growth/lifetime income].”

🚧 Step 6: Know the Licensing

If you're in insurance, these matter:

• Insurance license – for fixed, MYGA, FIA, SPIA, DIA, QLAC
• Securities license (Series 6/7) – for RILA and VA

If you're interested in additional training, please sign up for our live training sessions on Wednesdays inside your training section. We have a training link to help you get started.

https://app.annuitiesgenius.com/university

Webinars can be accessed and viewed here from past sessions