Who’s Who in a Fixed Index Annuity

Insurance Company:

This is the company that issues the annuity. The insurance company is responsible for backing the annuity’s guarantees. Bothfeld Financial partners with a number of Insurance Companies.

Contract Owner/Annuitant:

These usually are the same person, but they can be different. The owner makes decisions about the annuity, such as who the beneficiaries are. The annuitant is the person whose life expectancy is used to calculate annuity payments.


The beneficiary is the person who receives the annuity’s death benefit. Naming one or more beneficiaries is important, because without a beneficiary, the money in your annuity could be subject to probate, which can take up to 12 months to obtain.

A death benefit can be paid to your beneficiary without probate.