Fixed annuity contracts traditionally provide a guarantee of principle.  There are are many types of fixed annuities including:

Traditional Fixed - the insurance company declares your interest each year.

Fixed Indexed Annuity - Your return will be based on different indexes in the market with caps & other important features to understand.

Multi Year Guarantee Annuity (MYGA) -  a guaranteed  fixed interest rate for the amount of years you choose.

A fixed annuity is a conservative product that will give you piece of mind. The liquidity is normally 10% of the value each year.  Please understand there are early surrender penalties, similar to canceling a CD at a bank early.