The database
Every annuity type, and what its number really means
Annuity marketing runs on big numbers that mean different things: a 7% “payout” is not 7% interest, a 10% “cap” is not a return, and a 6% “roll-up” is not money. This reference decodes the quoted number for every major annuity type — so you can compare them to each other, and to a secondary-market payment stream, on honest terms.
Side by side
The family, decoded
The quoted number is the marketing; the columns after it are the contract.
Swipe sideways for the full table →
| Type | The quoted number is… | Principal back? | Liquidity | Backed by |
|---|---|---|---|---|
| SPIA | Payout rate (not a yield) | No account value; principal converts to income | None — irreversible | State guaranty association, within limits |
| DIA | Deferred payout rate (not a yield) | No account value during deferral | None — irreversible | State guaranty association, within limits |
| QLAC | Deferred payout rate + an RMD deferral | No account value during deferral | None — irreversible | State guaranty association, within limits |
| MYGA | A true interest rate — the honest quote of the family | Yes — account value, principal intact | Limited — surrender charges during the term | State guaranty association, within limits |
| Fixed deferred | A current declared rate — renewable at the insurer's discretion | Yes — account value, principal intact | Limited — surrender charges apply | State guaranty association, within limits |
| Fixed indexed | A cap or participation rate — not a return | Yes — protected account value | Limited — long surrender schedules | State guaranty association, within limits |
| RILA | A cap paired with a buffer — read both numbers | At risk beyond the buffer | Limited — surrender schedules; prospectus product | Securities product — not a guaranty-association fit |
| Variable | A rider "roll-up" rate — not interest on your money | Market value — can lose money | Limited — surrender charges + tax rules | Securities product; rider promises rest on the insurer |
| Secondary-market payment stream | A true estimated effective yield on a fixed schedule | Guaranteed streams pay the full schedule; life-contingent streams pay while the payee lives | Limited — long-term holding; resale may be possible | The issuing carrier's obligation (no guaranty association) |
Figures discussed on these pages are illustrative frames, not live quotes — rates, caps, and payouts change with markets and carriers. For what the secondary market pays right now, see current estimated yields.
Go deeper
The type guides
Each guide decodes the quote, explains the mechanics, and states the honest fit — including when the product beats ours.
Payout rate (not a yield)
Single Premium Immediate Annuity (SPIA)
A lump sum handed to an insurer today in exchange for income that starts within a year — often for life.
Deferred payout rate (not a yield)
Deferred Income Annuity (DIA)
A SPIA with a waiting period: pay now, income starts years later — the longer the deferral, the higher the quoted payout.
Deferred payout rate + an RMD deferral
Qualified Longevity Annuity Contract (QLAC)
A DIA bought inside an IRA or 401(k) with a special tax status: the money it holds is excused from RMDs until income begins (as late as 85).
A true interest rate — the honest quote of the family
Multi-Year Guaranteed Annuity (MYGA)
The CD of the annuity world: a guaranteed interest rate for a set term, tax-deferred, with surrender charges for leaving early.
A current declared rate — renewable at the insurer's discretion
Traditional Fixed Deferred Annuity
A tax-deferred savings annuity where the insurer declares the rate each year — guaranteed never to fall below a floor.
A cap or participation rate — not a return
Fixed Indexed Annuity (FIA)
Principal-protected crediting tied to an index's performance — through caps, participation rates, and spreads that the insurer can usually reset yearly.
A cap paired with a buffer — read both numbers
Registered Index-Linked Annuity (RILA)
An FIA's aggressive sibling: higher caps in exchange for absorbing part of the losses — a securities product with real downside.
A rider "roll-up" rate — not interest on your money
Variable Annuity (VA)
Market subaccounts inside an insurance wrapper, with optional income riders — flexible, and carrying the family's heaviest fee stack.
Pacific Structured Assets
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