For 25 years, fixed indexed annuities (FIA) have been helping consumers enjoy downside protection and upside potential in their retirement plans. Yet these products, how they are built and why they can play a vital role in helping create a secure retirement are still widely misunderstood.

NAFA’s newest educational series seeks to break down specific features and benefits of these annuities in a way that anyone — regulator, legislator, journalist, agent or consumer — can understand. Our fifth installment dives into how the design and build of FIAs impacts rates, renewal rates and what consumers can expect from these powerful products.