Not all annuities work the same way. But choosing the best one for you can help you with growth, flexibility, and provide the
income you were counting on after all those years you’ve worked so hard to save and prepare. An annuity is a contract with an
insurance company, but the six main types differ in how they grow, how much risk they carry, what they cost, and when you can
get to your money. The annuity comparison chart below puts Multi-Year Guaranteed Annuities (MYGAs), Fixed Indexed Annuities
(FIAs), Variable Annuities, Single Premium Immediate Annuities (SPIAs), Deferred Income Annuities (DIAs), and Qualifying
Longevity Annuity Contracts (QLACs) side by side so you can see those differences at a glance.
Use the chart to narrow down which annuities match your retirement priorities. If protecting your principal comes first, look at the
“Risk to Principal” column. If you may need access to your funds, compare “Liquidity” and surrender periods. If you want a
guaranteed paycheck for life, focus on the income annuities at the bottom of the chart. Every situation is different, though, and the
right fit depends on your taxes, your other income sources, and your timeline. At Miser Wealth Partners, our advisors can help you
weigh these options as part of a complete retirement and tax plan. If you want to walk through this chart with one of our advisors,
please click here and schedule a 15-minute phone call. We look forward to helping you in your financial journey toward wealth.
| Type | How Growth / Income Works | Risk to Principal | Upside Potential | Typical Fees | Liquidity | Best Suited For | Regulated By |
|---|---|---|---|---|---|---|---|
| Multi-Year Guarantee Annuities (MYGAs) Book Purchase Consultation | Fixed rate locked for the full term (e.g., 3, 5, 7 yrs) | None | Low to moderate | Usually none | Surrender charges match the term | CD-like alternative with tax deferral | State insurance departments |
| Fixed Index Annuities (FIA) Book Purchase Consultation | Credited interest tied to an index (e.g., S&P 500), limited by caps, participation rates, or spreads | None0% floor in down years | Moderate (capped) | No base fee. Optional income riders about 0.5% to 1.5%/yr | Surrender charges often 7 to 10+ yrs | Those wanting some market upside with no loss | State insurance departments |
| Variable (Deferred) Annuities Book Purchase Consultation | Invested in subaccounts (similar to mutual funds). Value moves with markets | Full market riskUnless a guarantee rider is purchased | High | Highest: M&E, admin, fund expenses, riders often total about 2% to 3%/yr | Surrender charges about 5 to 8 yrs | Long-horizon investors wanting tax-deferred market growth | SEC & FINRA |
| Single Premium Immediate Annuities (SPIAs) Book Purchase Consultation | Lump sum converted to income starting within ~12 months, for life or a set period | Exchanged for incomeNo account value to withdraw | None Payout set at purchase (inflation riders available) | Built into payout rate | Generally none. Funds are irrevocable | Retirees wanting a guaranteed "pension" now | State insurance departments |
| Deferred Income Annuities (DIA) Book Purchase Consultation | Lump sum buys income that begins years later | Same as SPIA | None Higher payouts due to deferral | Built into payout rate | Generally none | Planning for future income or longevity | State insurance departments |
| Qualified Longevity Annuity Contracts (QLACs) Book Purchase Consultation | A DIA held in an IRA/401(k), with income starting as late as age 85 | Same as DIA | None | Built into payout rate | None | Reducing RMDs and insuring against outliving savings | State insurance & IRS rules |
