Investors seeking a "CD-like" fixed rate for a set term with zero market risk. Best for Immediate Income (SPIA): MassMutual RetireEase

Short-term investors willing to trade a slightly lower carrier rating for maximum yield. Best Annuity Companies of 2026 - CNBC

Converts a lump sum into a paycheck within 12 months with no contract fees.

Pre-retirees (ages 55-65) with a 7-10 year horizon who want more upside than a fixed rate. Best for High Returns (Higher Risk): CL Life

Ties growth to indices like the S&P 500 but guarantees you won't lose principal if the market drops.