Fixed Annuities  Printer-friendly version Why choose a fixed annuity? If you are more of a conservative investor, a fixed annuity may appeal to you. Fixed annuities offer steady, guaranteed growth. But fixed annuities also offer tax-deferral to help your money grow faster and a lifetime income option to keep your retirement secure.   How does a fixed annuity work? Your purchase payments earn a guaranteed interest rate for a set period of time. At the end of the period a new fixed rate becomes effective, based on current interest rates.   Earnings are not taxed until withdrawn1, most likely during retirement. You also have a choice of payout options, including a lifetime income.   Discovery Classic R Fixed Annuity Enjoy the safety of principal, steady tax-deferred growth, a guaranteed rate of return (set annually), and guaranteed income options. In the first year your annuity will get off to a faster start with an additional interest rate credit2. Issued by The Prudential Insurance Company of America.   Request an appointment with a local financial professional to learn more about investing in the annuity that's right for you.   1For tax purposes, earnings are withdrawn first. In addition, withdrawals during the first six years of your contract may be subject to a withdrawal charge of 6%, 6%, 5%, 5%, 4%, 2%, respectively. Withdrawals of taxable amounts will be subject to income tax, and prior to age 59 1/2, a 10% federal income tax penalty may apply.   2Purchases will earn an attractive rate, plus an Additional Interest Rate for the first contract year only. Total Interest Rate is composed of an Interest Rate plus the additional interest rate. Deposits received in the first contract year are eligible to receive any Additional Interest Rate that is in effect at the time of deposit for one year. Minimum initial purchase payment is $5,000. On each deposit anniversary, a new Interest Rate will become effective with a one-year guarantee.   Discovery Classic Fixed Annuity is not available in all states.   All guarantees are based on the claims paying ability of the issuer.   Call your licensed financial professional for more information on Prudential's Annuity products, including prospectuses for variable annuities that detail risks, charges and expenses. Please read all materials carefully before you invest or send money. Annuities have limitations. For costs and complete details of the coverage, call or write your Prudential financial professional.   Discovery Classic is issued by The Prudential Insurance Company of America, 751 Broad Street, Newark, NJ 07102-3777. Discovery Classic is a service mark of Prudential. Oregon contract form number FPDA-97-OR   IFS A084308 Take Action Find An Agent Request an Appointment