FIA = Fixed Index Annuity

FIA is a type of annuity contract that provides a guaranteed minimum return while offering additional returns linked to the performance of a specified market index, such as the S&P 500. FIAs are designed to combine features of fixed and variable annuities, giving policyholders the potential for higher returns compared to traditional fixed annuities, without the risk of directly investing in the market. They are often used for retirement income planning, offering both growth potential and protection against market downturns.