Deferred Income Annuity contracts are irrevocable, have no cash surrender value and no withdrawals are permitted prior to the income start date.
Annuity guarantees are subject to the claims-paying ability of the issuing insurance company.
Fixed annuities available at Fidelity are issued by third-party insurance companies, which are not affiliated with any Fidelity Investments company. These products are distributed by Fidelity Insurance Agency, Inc., and, for certain products, by Fidelity Brokerage Services, Member NYSE, . A contract’s financial guarantees are solely the responsibility of and are subject to the claims-paying ability of the issuing insurance company.
2. Restrictions may apply depending on payment option and/or contract type selected. The new income amount will be determined by the issuing insurance company. Please refer to the product materials for additional details.
Minimum subsequent premium amounts and limitations to when additional payments are allowed prior to income start date may apply. Please refer to the product fact sheet.
4. The age for starting RMDs is 73 for individuals who attain age 72 after 2022 and attain age 73 before 2033. For individuals who attain age 74 after 2032, the age for starting RMDs is 75.
5. Traditional IRA includes SEP and SIMPLE IRA. QLACs cannot be purchased with Roth or Inherited IRA dollars.
Fidelity does not provide legal or tax advice. The information herein is general and educational in nature and should not be considered legal or tax advice. Tax laws and regulations are complex and subject to change, which can materially impact investment results. Fidelity cannot guarantee that the information herein is accurate, complete, or timely. Fidelity makes no warranties with regard to such information or results obtained by its use, and disclaims any liability arising out of your use of, or any tax position taken in reliance on, such information. Consult an attorney or tax professional regarding your specific situation.