What's a deferred annuity?
A deferred annuity is a type of insurance contract that can help you save and prepare for retirement. You can buy a deferred annuity with a one-time, lump sum of money.
Our deferred annuity is the USAA Fixed Guaranteed Growth (FGG) annuity. With an FGG annuity, you'll have predictable growth backed by the financial strength of USAA Life Insurance Company.
Grow Your Money With Security and Stability
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Retirement may seem far away, but not so far that it isn't on your mind. You're playing it smart, saving money and doing your research.
But some of what you've learned may leave you feeling uncertain.
The big ups and downs of the market can make it seem unpredictable.
Is it possible to feel secure, protect your savings and achieve growth over time? The answer is yes.
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With a USAA Fixed Guaranteed Growth Annuity, or FGG annuity, you'll be on a path to smooth, predictable growth.
First, your money grows with a guaranteed, competitive interest rate for a period of time. It won't matter if the economy slows down. You can watch your deposits and your daily interest grow.
Next, you get to bypass anxiety because your money isn't in the market. You keep your money safe because it's not an investment. Your money stays secure in a contract with the financial strength of USAA Life Insurance Company.
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Another great benefit is that your growth isn't taxed. The only time you face paying taxes is when you take money out. And by then, your tax rate in retirement could be much lower. The deferred tax benefit means that all the money you grow stays in your annuity, giving you even more growth.
The FGG annuity might be what you're looking for if you want worry-free retirement planning.
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Still have questions? Our Retirement Income Specialists can answer your questions. We can help you start a complimentary retirement income review to see how you can achieve your best possible retirement.
Speak to a USAA Retirement Income Specialist today.
Description of visual information: [Guarantees apply to certain insurance and annuity products and are subject to product terms, exclusions and limitations and the insurer's claims-paying ability and financial strength.
An annuity is a long-term insurance contract sold by an insurance company designed to provide an income, usually after retirement, that cannot be outlived. There are fees, expenses and surrender charges that may apply.
The fixed annuity guarantee against principal loss depends on the claims paying ability of the insurance company.
USAA and its affiliates do not provide tax advice. Taxpayers should seek advice based upon their own particular circumstances from an independent tax advisor.
Money not previously taxed is taxed as income when paid. Withdrawals before age 59½ may be subject to a 10% federal tax penalty.
Fixed Guaranteed Growth (FGG): Forms ICC1798732 10-18, ASP98784CA 10-18, ASP98782ST 10-18, ASP98783FL 10-18, ASP98785ND 10-18, ASP98863SD 10-18, NSP98868NY 10-18
Life insurance and annuities provided by USAA Life Insurance Company, San Antonio, TX and in New York by USAA Life Insurance Company of New York, Highland Falls, NY. All insurance products are subject to state availability, issue limitations and contractual terms and conditions. Each company has sole financial responsibility for its own products.] End of description.
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See how your money could grow in a deferred annuity.
Just enter a starting amount in the calculator, along with the number of years you want your money to grow. We'll show you how your FGG account value could increase over time.
Why choose USAA Life Insurance Company for an annuity?
We've been providing insurance products and services for more than 60 years. And we're built around the core values of service, loyalty, honesty and integrity. Here's more of what you can expect from us.
Complimentary retirement review
We're here to help you find the annuity that best fits your retirement plan.
Our Retirement Income Specialists have the knowledge and insights to help you enjoy your retirement. They don't work on commission, and they can help with Social Security claiming strategies, reviewing accounts and identifying retirement risks.
Financial strength
The USAA Life Insurance Company maintains top-tier grades from all 3 key rating agencies. This indicates that USAA has the financial strength to honor its promises. See note 4
Commitment to the military
USAA ranks #1 on the Military Friendly® Brand 2025 list.
Deferred annuities FAQ
A benefit of saving in a deferred annuity is that your money grows tax-deferred. Once you withdraw money from the annuity, the earnings will be taxable. Only money that wasn’t previously taxed is considered taxable when distributed from your annuity.
Yes. After owning your deferred annuity for one year, you can use it to generate income.
A deferred annuity is designed for guaranteed tax-deferred growth. This allows you to accumulate retirement savings, and in the future, you have the option to turn it into income. You could create this income using an immediate annuity.
We currently offer annuities that are single-premium only. That means you acquire them with a lump-sum payment. You could open several single-premium annuities over time. Our Retirement Income Specialists can talk to you about options that might be right for you. Call them at 800-833-9847.