How Many Different Types Of Annuities Are There? 
Types you will hear reference to are : Fixed , Variable , Equity Indexed , Immediate , Deferred , Single Premium , Flexible Premium , with withdrawal penalties , and without withdrawal penalties . Fixed annuities provide guaranteed , fixed payments for the life of the contract . Variable annuities are tied to the market with minimal guarantees but potential for more growth . Immediate annuities are payed with a single premium . Deferred annuities have an accumulation phase in which premiums are paid in periodically . 