Q: What is a Fixed Indexed / Equity Indexed Annuity? (NOT CURRENTLY SUPPORTED IN THIS APP)
A: An Equity-Indexed Annuity functions like a Fixed Annuity in some ways, and like a Variable Annuity in other ways. Equity-indexed Annuities have two components:

• a minimum guaranteed return, and
• the possibility of earning a higher return, by crediting your account with a return based on a formula that is tied to a popular stock market index, such as the S&P 500 Index.
  

Common drawbacks

1. The formulas inside Equity-Indexed Annuities are often difficult for an average person to understand.
2. Equity-Indexed Annuities often have high Surrender Charges (lasting for ten to fifteen years).

For these two reasons, I do not like Equity-Indexed Annuities, and think most investors can find better investment choices.